Which two of the following are features of a capitalist market system? Essential industries have no domestic competition.
Custom and tradition determine how resources are used.
Business owners decide what goods and services to produce.
Private citizens own the means of production.
A central agency controls prices and allocates resources.

You have just made your first $5,500 contribution to your retirement account. assume you earn a return of 10 percent per year and make no additional contributions. a. what will your account be worth when you retire in 45 years? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. what if you wait 10 years before contributing?