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Classify the examples according to whether they are a characteristic of a market system. Characteristic of a market system Not characteristic of a market system Answer Bank Profits motivate firms to produce goods at the lowest possible cost.People have the freedom to invest their money and time as they wish. There is relatively little private property, as resources are owned by everyone collectively. The government chooses a laissez-faire approach. Exchanges that make one person better off at the expense of another are common

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