Which of the following activities of government precludes the existence of a market economy?
The imposition of taxes
The control of the location of industry
The central planning of production
The fixing of maximum price for all necessities
The establishment of law requiring the registration of business firms
Correct answer is C
No explanation has been provided for this answer.
Fairness
The distribution of income and wealth
Public need which is determined by the government
Private needs to be determined by the market
The ability of an individual to make a profit
Correct answer is C
No explanation has been provided for this answer.
The advantage of sole proprietorship is as follow
Increase total saving
Depend on hand-out from foreigners
Impose tariff on import
Nationalise all foreign concern
None of the above
Correct answer is A
No explanation has been provided for this answer.
In order to build up its capital stock, the typical less-developed country should ideally
Increase total saving
Depend on hand-outs from foreigners
Impose tariff on import
Nationalize all foreign concern
None of the above
Correct answer is A
No explanation has been provided for this answer.
Trade done by people in the village
Exchange of goods for money
International trade
Exchange of goods for goods
The trade of the middle ages
Correct answer is D
No explanation has been provided for this answer.