Which of the following is not one of the central institutional characteristics of a capitalist system . a) Establishment of free contractual relations as the means of social coordination ( private contracts and relations). b) Establishment of social realm of production and distribution from which government interaction in the allocation of resources and determination of price is largely excluded. c) legitimation of aquisitive behavior ( consumption) as the social norm. d) Continual search for the enlargement of exchange value ( M-C-M) as the active ( or organizing ) principle of the whole itself. e) A demand for and supply of money that are governed by market forces.
Which of the following is not one of the central institutional characteristics of a capitalist system . a) Establishment of free contractual relations as the means of social coordination ( private contracts and relations). b) Establishment of social realm of production and distribution from which government interaction in the allocation of resources and determination of price is largely excluded. c) legitimation of aquisitive behavior ( consumption) as the social norm. d) Continual search for the enlargement of exchange value ( M-C-M) as the active ( or organizing ) principle of the whole itself. e) A demand for and supply of money that are governed by market forces.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter1: Introduction And Goals Of The Firm
Section: Chapter Questions
Problem 6E
Related questions
Question
100%
Which of the following is not one of the central institutional characteristics of a capitalist system .
a) Establishment of free contractual relations as the means of social coordination ( private contracts and relations).
b) Establishment of social realm of production and distribution from which government interaction in the allocation of resources and determination of price is largely excluded.
c) legitimation of aquisitive behavior ( consumption) as the social norm.
d) Continual search for the enlargement of exchange value ( M-C-M) as the active ( or organizing ) principle of the whole itself.
e) A demand for and supply of money that are governed by market forces.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning