Which is a key feature of the market system

Assignment Help Microeconomics

Reference no: EM13687022

Which is a key feature of the market system?

1. Price floors and price ceilings in all markets

2. Reallocation of all resources from private to public uses

3. The right to own private property and control resource use

4. Central planning by government to provide goods and services

Reference no: EM13687022

Questions Cloud

Consider a closed economy that has no government : Consider a closed economy that has no government. If saving is negative, then investment should also be negative. Is it possible for investment to be negative? What might be the most plausible channel for it to be so?

What is the price of the product : A manufacturing company leases the machine for $31,000 per year. Each unit produced cost of $36.77 in labor and $60.02 in materials. To breakeven 21,000 units should be sold. What is the price of the product? Provide answer with precision to cents.

What is the cost per cubic inch of the best alternative : While studying for the engineering economy final exam, you and friends discover yourself craving a fresh pizza. You can't spare the time to pick up the pizza and must have it delivered. Pick Up Sticks offers a 1.25 inch thick (including toppings), 15..

Economically attractive as conventional gasoline fueled car : Ethanol blended with gasoline can be used to power a "flex fueled' car. One particular blend that is gaining in popularity is E 85, which is 85 percent ethanol and 1b% gasoline. E 85 is 80% cleaner burning than gasoline alone, and it reduces our depe..

Which is a key feature of the market system : Which is a key feature of the market system?

What factors will cause a change in demand and supply : What factors (determinants) will cause a change in demand and what factors (determinants) can cause a change in supply? Can you give any current examples of a determinant of demand that you see changing in any industry or marketplace or a determinant..

Average annual rate of return on your investment : Presume you buy a share of stock for $20 and sell it for 40. Then your profit is $20. If that happens within a year, your rate of return is an impressive 100%. If it takes 6 years, what would be the average annual rate of return on your investment?

Cups size is independently drawn from the distribution : Presume the expected size of each cup of punch is 2 ounces and the standard deviation of the size of a cup is 1/2 ounce and each cup is poured independently. Presume each cup's size is independently drawn from the distribution. What is the approximat..

Consumer surplus at this competitive equilibrium : Market demand is p = 540 - q and the market supply equation is p = 60 + 2q. Use this data for the following questions. (The question is in bold bellow) The competitive equilibrium is:? Consumer surplus at this competitive equilibrium is:?

User Account

All Pages