A typical feature of a market economy is that
...A typical feature of a market economy is that
All producers make profit
Full employment exists
Consumer sovereignty exists
There is equality of economic agents
Correct answer is C
A market economy is characterized by private ownership, freedom of choice, self-interest, buying and selling platforms, competition, and limited government intervention. There is consumer sovereignty in a market economy in a way that consumers decide what should be produced, while the forces of demand determine at what prices goods and services should be exchanged.
When a firm's total revenue is at the maximum, marginal revenue is ...
The establishment of industries in rural areas will help to reduce ...
Which of the following institutions does not operate in the money market? ...
In a public company, entrepreneural function are performed by the ...
The following are economic agents in any economy EXCEPT ...
When a generalization is made based on observed facts, it is known as ...
Fixing the prices of agricultural products can be a problem because of the ...
Production covers all but one of the following activities: ...
A major achievement of the Organization of Petroleum Exporting Countries (OPEC) is that ...