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

Question 34

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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.
-What do you mean by the term 'free market'?​


A) ​It refers to the process whereby buyers and sellers interact or trade under government regulation.
B) ​It refers to the process whereby buyers and sellers voluntarily interact or trade without any interference or restrictions.
C) ​It refers to a market where buyers and sellers pay for goods and services in kind and not in cash.
D) ​It refers to a market where assets are traded after they have been sold in the primary market.
E) ​It refers to a market where the demand for the product being traded is not affected by a change in the price of the product.

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