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Scenario 4-1 In a Given Year, Country a Exported $12 Million Worth

Question 48

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Scenario 4-1
In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.
-Which of the following is a basic assumption of an economic analysis?​


A) ​Private property rights exist and are secure.
B) A controlled market structure is the key to economic growth.
C) ​In a free market, resources are owned by the government.
D) ​There are no private property rights under a free market economy.
E) ​Social well-being is the prime objective of an entrepreneur.

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