Capitalism is an economic system

Assignment Help Microeconomics

Reference no: EM13697409

Pick the right answer please

A) Examples of Barriers to entry are?

1) Natural resource industries with high start-up cost

2) Economies od scale

3) A Pharmaceutical company patent on new drug

4) All of the above

B) Capitalism is an economic system

1) Based on government intervention in the means of production

2) That originated in the USA in the 19th century

3) Where private owners of capital make decisions base of profit

4) That dominated developing economies in the 19th century

C) If people with high income pay a higher percentage of income in taxes,the income structure is

1) Progressive

2) Regressive

3) Value-added taxes (VAT)

4) Excise taxes

Reference no: EM13697409

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