Which of the following statements is NOT true?Question 9Select one:a.In terms of economic systems, a market economy best facilitates innovation and entrepreneurshipb.Innovation and entrepreneurship require strong property rightsc.A market economy requires democracyd.Innovation and entrepreneurship are the engines of economic growth
Question
Which of the following statements is NOT true?Question 9Select one:a.In terms of economic systems, a market economy best facilitates innovation and entrepreneurshipb.Innovation and entrepreneurship require strong property rightsc.A market economy requires democracyd.Innovation and entrepreneurship are the engines of economic growth
Solution
The statement that is NOT true is: "A market economy requires democracy". While a market economy and democracy often go hand in hand, they are not mutually exclusive. A market economy is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses. This can exist in various political systems, including non-democratic ones.
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