Which of the following is an example of a product made available in the US throu

Question

Which of the following is an example of a product made available in the US through a traditional part of the economy?
a. A shirt bought at a store.
b. Shoes bought from a friend.
c. Elderly being cared for by their children.
d. Children being educated in public schools.
e. There are no traditional aspects to the US economy.


Which of the following was NOT a characteristic of a market system?
a. Private property.
b. Self-interest.
c. Cooperation of interests.
d. Reliance on capital and technology.
e. Specialization.

Which of the following is associated with the use of money?
a. It is a medium of exchange.
b. It helps to enforce property rights.
c. It eliminates the double coincidence of wants.
d. All of the above are associated with the use of money.
e. Only a and c are associated with the use of money.

How does a market system answer the question

Explanation / Answer

C

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