Question 1 In the Goods Market, Businesses are on the supply side and households

Question

Question 1

In the Goods Market, Businesses are on the supply side and households are on the demand side.

False

Question 2

The benefits of a public good do not have to be paid for by "free riders."

True

Question 3

A market economy requires private property rights because these rights:

Question 4

The specific roles of government include all of the following except:

Question 5

All of the following are examples of government's involvement in the relationship between households and businesses except:

Explanation / Answer

1) Statement is true

2) Statement is true

3) Private property ensures that the market incentives to produce are adequate

4) Providing private goods that the market does not supply is not one of the government's role (it provides public goods)

5) Laws that require states and the federal government to balance their budgets is not an example of government's involvement in the relationship between households and businesses

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