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Which of the following lists correctly identifies a few of the basic elements all market economies share?
A. Individual ownership of private property; the right to make a profit from public property; the law of supply and demand
B. Individual ownership of private property; the right to make a profit from private property; government regulation of key resources
C. Individual ownership of private property; the law of supply and demand; government regulation of key resources
D. Individual ownership of private property; the right to make a profit from private property; the law of supply and demand

Respuesta :

Answer:

It's "Individual ownership of private property; the right to make a profit from private property; the law of supply and demand"

Explanation:

(D) Individual ownership of private property; the right to make a profit from private property; the law of supply and demand

What is Private property?

Private property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by a group of non-governmental entities.

What is profit?

Profit, in accounting, is an income distributed to the owner in a profitable market production process. Profit is a measure of profitability which is the owner's major interest in the income-formation process of market production. There are several profit measures in common use.

What is meant by supply and demand?

Supply is the amount of the good that is being sold onto the market by producers. At higher prices, it is more profitable for firms to increase supply, so supply curve slopes upward. Demand is the quantity of the good that consumers wish to buy at different prices. At higher prices, less will be demanded.

To know more about private property here:

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