Question

The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of:_____________.

Answer 1

D. A market system

Step-by-step explanation:

A market economy is a system where private individuals, and private and public companies are allowed to own means of production and distribution. What is produced, how it is produced and for whom it is produced is determined by the forces of demand and supply, price and the profit motive. In this economy activities are guided by the interactions of the forces of demand and supply.

Answer 2

The correct answer is letter "D": A market system.

Step-by-step explanation:

Economic decisions and prices in a market system or market economy are decided by market forces rather than by central planning. Market forces apply, according to their free will, to the cumulative impact of all decisions made by individual actors in the market, such as customers and businesses. Businessmen control the productive resources and goods and services prices to generate profit.