Which one of the following best demonstrates the principles of free markets economics? A lumber company in country X is able to harvest trees from the land they own. As part of the license they were granted by their local government to operate, they are required to plant one tree for every tree they cut down. A lumber company in country Z is able to harvest trees from the land they own. They sell the processed lumber to the store willing to pay the highest price. O The forests in country R are owned by the government. The government decides how and when trees are harvested and how the lumber will be processed.

Which one of the following best demonstrates the principles of free markets economics? A lumber company in country X is able to harvest trees from the land they own. As part of the license they were granted by their local government to operate, they are required to plant one tree for every tree they cut down. A lumber company in country Z is able to harvest trees from the land they own. They sell the processed lumber to the store willing to pay the highest price. O The forests in country R are owned by the government. The government decides how and when trees are harvested and how the lumber will be processed.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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