A. Short-Answer, Essays, and Problems 1. Explain the term â??laissez faire capitalism.â? 2. Explain

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A. Short-Answer, Essays, and Problems

1. Explain
the term “laissez faire capitalism.â€

2. Explain
what is meant by a command economy.

3. Evaluate the statement:
“The government should have no place in a capitalistic market system.â€

4. List
nine characteristics of the market system.

5. Why is the right of
private property an essential characteristic of a market system?

6. What
role does freedom play in capitalism?
How important is it to the operation of a competitive market economy?

 

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