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All of the following except one are considered to be the prerequisite elements for a market system to work effectively. Which is the exception? Multiple

All of the following except one are considered to be the prerequisite elements for a market system to work effectively. Which is the exception?

Multiple Choice

  • A balanced government budget
  • Private ownership of productive resources.
  • Extensive specialization and trade.
  • A legal and social foundation
  • Perfect competition.

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