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The market system is an economic system that: A. Produces more consumer goods than capital goods B. Produces more capital goods than consumer goods C. Gives private individuals the right to own resources used in production D. Emphasizes the government's power to control markets and direct economic activity, 3.
- Chapter 02 The Market System and the Circular Flow - Quizlet
The market system is an economic system that: A) produces...
- Chapter 02 The Market System and the Circular Flow - Quizlet
The market system is an economic system that: A) produces more consumer goods than capital goods. B) produces more capital goods than consumer goods. C) gives private individuals and institutions the right to own resources used in production. D) gives the government the right to tax individuals and corporations for the production of capital goods.
The market system is an economic system that: A. Produces more consumer goods than capital goods B. Produces more capital goods than consumer goods C. Gives private individuals the right to own resources used in production D. Emphasizes the government's power to control markets and direct economic activity
The market system is an economic system that: A) produces more consumer goods than capital goods. B) produces more capital goods than consumer goods. C) gives private individuals and institutions the right to own resources used in production. D) gives the government the right to tax individuals and corporations for the production of capital goods.
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Capitalism is an economic system that: A) produces more capital goods than consumer goods. B) produces more consumer goods than capital goods. C) gives the government the right to tax individuals and corporations. D) gives private individuals and corporations the right to own productive resources.
The market system is an economic system that: A) produces more consumer goods than capital goods. B) produces more capital goods than consumer goods. C) gives private individuals and institutions the right to own resources used in production. D) gives the government the right to tax individuals and corporations for the production of capital goods.
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Jan 13, 2020 · If an economy chooses to produce more capital goods than consumer goods, at point A in the diagram, then it will grow by more than if it allocated more resources to consumer goods, at point B. There is a trade-off between the short and the long run. In the short run, the economy must use resources to produce capital rather than consumer goods.
