The general set of rights to own private property and exchange goods, services, and financial assets with minimal government interference is defined as
A) capitalism.
B) market socialism.
C) economic freedom.
D) economic privilege.
Question 2
Oligopoly is a situation when there
A) is one firm in the industry that is fairly large.
B) are a few large firms in the industry.
C) are too many firms in the industry and there is excess capacity.
D) is one giant firm and many smaller firms forming a competitive fringe.
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Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
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