Multiple Choice
An economic system
A) requires a grouping of private markets linked to one another.
B) is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem.
C) requires some sort of centralized authority (such as government) to coordinate economic activity.
D) is a plan or scheme that allows a firm to make money at some other firm's expense.
Correct Answer:
Verified
Correct Answer:
Verified
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