Answer to Question #191974 in Economics for Mike

Question

In a country such as South Africa, the most important characteristic of the business world in which it operates include_______________?.

1. The freedom of individuals to establish any business of their choice.

2. The state owning and controlling the community's resources or factors of production.

3. The limited choice of products and services that the state offers.

4. The allocation of resources which are not affected by free markets.

Answer 1

In a country such as South Africa, the most important characteristic of the business world in which it operates includes the freedom of individuals to establish any business of their choice.