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Economics
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Which statement best describes a pure market economy?
Ā 
A) Producer intervention in economic choices is strictly forbidden.
B) The government determines economic choices and makes most decisions.
C) The decisions made by producers and consumers drive all economic choices.
D) Producers and consumers make some economic choices while the government makes others.

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Bunny Greenfelder
Bunny GreenfelderLv2
24 Mar 2020
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Related questions

1) Which of the following is the best definition of economics? A) The study of how producers decide what inputs to hire and what outputs to produce. B) The study of how a provincial government allocates tax dollars. C) The study of how individuals, businesses, governments, and entire societies make choices as they cope with scarcity and the incentives that influence and reconcile those choices. D) The study of how consumers spend their income. E) The study of how consumers and producers meet each other at the market.

2) Which of the following is the best definition of economics? A) The study of how individuals, businesses, governments, and entire societies make choices as they cope with scarcity and the incentives that influence and reconcile those choices. B) The study of how consumers and producers meet each other at the market. C) The study of how a provincial government allocates tax dollars. D) The study of how consumers spend their income. E) The study of how producers decide what inputs to hire and what outputs to produce.

Which best describes the idea behind the "invisible hand"?

a. Producers decide what to make for consumers, which guides the economy.

b. Individuals seeking their own self interest benefit the economy as a whole.

c. Government sets policy for producers and consumers, which guides the economy.

d. Consumers decide what they need and want to buy, which guides the economy.

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