Question

7. Which of the following is a market in the sense of an economic system? (a) Wal-Mart stores (b) A laissez-faire economy (c) The market for stocks in U.S. companies (d) A local organic food market (e) The market for entry-level high school teachers

Answer 1

Answer-Which of the following is a market in the sense of an economic system-The correct answer is option C, the market for stocks in the U.S companies because, in terms of economy, the stock market is a place where is all the shares of public companies are traded, we can also find out the performance of every sector of the economy from the stock market.

Option A is an incorrect answer because Wal -Mart stores are just a part of the economy, Wal -Mart cannot be treated as an economic system.

Option B is an incorrect answer because an economic system have both private controlled firms and government regulated firm and in every economic system, the government has the rights to intervene.

Option D is an incorrect answer because  A local organic food market is an small part of the economy ,it is not the entire economic system.

Option E is an incorrect answer because The market for entry-level high school teachers is only talking about a particular eduction industry ,it is not including the every sectro of the economy.