A modern economy like Canada's is largely organized by
A)governments at all levels coordinating the activities of firms and citizens.
B)individuals forming cooperative enterprises and labour unions.
C)individuals following their own self-interest,doing what seems best for themselves.
D)benevolent individuals pursuing the public interest.
E)the self-interested behaviour of a small number of individuals.

Question

Quizplus · Accepted Answer

A modern economy like Canada's is largely organized by individuals pursuing their own self-interest and making decisions that they believe will benefit themselves. This can lead to competition among firms, innovation, and efficient allocation of resources. However, governments do play a role in regulating certain industries and providing public goods, but they do not coordinate all the activities of firms and citizens. Cooperative enterprises and labour unions also exist, but they are not the primary means of organizing the economy. Benevolent individuals and the self-interested behaviour of a small number of individuals are not significant enough to organize the entire economy.

A Modern Economy Like Canada's Is Largely Organized by