15 **Question:**Which of the following is *not* a typical characteristic of a market system?- freedom of choice- specialization- government production planning- use of money- technological advance**Explanation:**This question tests your understanding of the core components of a market system. A market system typically includes elements like freedom of choice, specialization, use of money, and technological advancement. However, "government production planning" is more characteristic of a centrally planned economy rather than a market-based system.

Option 3 Government production planning the standard market system everything is closely-held…

Answered: Which of the following is not a typical…

Which of the following is not a typical characteristic of a market system? freedom of choice specialization government production planning use of money technological advance

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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