Answered: Which of the following is a requirement…

Which of the following is a requirement for a market economy a. Money as a medium of exchange b. Property rights C. Trust d. Physical infrastructure e. All of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following is a requirement for a market economy
a. Money as a medium of exchange
b. Property rights
C. Trust
d. Physical infrastructure
e. All of the above

Expert Solution

Introduction

An economic system or market economy that relies on markets to conduct many economic activities

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