QUESTION IMAGE
Question
which of the following means that the markets are dictated by market forces, i.e. supply and demand? self - interest private property limited government free markets
Brief Explanations
- Self-interest refers to individuals acting for their own gain, which drives market activity but is not the system dictated by supply and demand.
- Private property is the right to own assets, a feature of market systems but not the term for supply/demand-driven markets.
- Limited government means minimal state intervention, which supports such markets but is not the market system itself.
- Free markets are economic systems where prices and production are determined by the competing forces of supply and demand, with little to no government control.
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