Question

The market system is an economic system that:

A. Produces more consumer goods than capital goods
B. Produces more capital goods than consumer goods
C. Gives private individuals the right to own resources used in production
D. Emphasizes the government's power to control markets and direct economic activity

Answer 1

A market economy gives private individuals the right to own resources used in production. Decision-making is decentralized and based on supply and demand.

Step-by-step explanation:

In a market economy, private individuals have the right to own resources used in production. This means that individuals or groups of individuals can own and operate businesses and other means of production.

Decision-making in a market economy is decentralized, and it is based on supply and demand. Market forces, rather than governments, determine economic decisions.