Asked by courtney mitchell on May 12, 2024

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Which of the following is a component of a pure market system? 

A)  limited choice 
B)  the flow of economic goods and money between households and businesses 
C)  limited competition 
D)  an obligation to provide jobs and safe workplaces

Economic Goods

Items or services that can satisfy human wants and are scarce in relation to their demand, requiring people to make choices about their use.

Pure Market System

is an economic model where prices for goods and services are determined by open market and consumers, without government intervention.

Limited Choice

The situation in which individuals or groups have restricted options and alternatives to choose from in making decisions or in selecting products/services.

  • Recognize and distinguish among different economic systems and their features.
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MP
Micah PeraltaMay 18, 2024
Final Answer :
B
Explanation :
The flow of economic goods and money between households and businesses is a fundamental component of a pure market system, known as a free market. In a free market, economic decisions are made by the interaction of buyers and sellers in the marketplace without government intervention. Limited choice, limited competition, and an obligation to provide jobs and safe workplaces are not components of a pure market system.