quiz 2 example #16720

Which of the following is a distinguishing feature of laissez-faire capitalism?

The term "laissez-faire" suggests that:

Copyrights and trademarks are examples of:

Specialization in production is economically beneficial primarily because it:

If competitive industry Y is incurring substantial losses, output will:

If a competitive industry is neither expanding nor contracting, we would expect:

In a competitive market economy, firms select the least-cost production technique because:

"Consumer sovereignty" means that:

The invisible hand refers to the:

Two major virtues of the market system are that it:

The invisible hand promotes society's interests because:

"Under central planning, some group has to decide how to get the necessary inputs produced in the right amounts and delivered to the right places at the right time. This is a nearly impossible task without markets and profits." This quotation best identifies the:

The incentive problem under communist central planning refers to the idea that:

In the simple circular flow model:

In terms of the circular flow diagram, households make expenditures in the _____ market and receive income through the _____ market. product; financial

In a market system, employees and suppliers:

The French term "laissez-faire" means:

The use of money contributes to economic efficiency because: