The assertion is true. In a republic, laws are made by elected officials to control the economy.
How does the economy of a republic get shaped by its government?
The government permits people to run their own enterprises. Personal property ownership is prohibited by the government.
Government authorities enact laws to influence the economy through market control, producer benefits, and compliance with the law. The government imposes limitations or restrictions on commercial activity through regulation.
As a result, option (a) true is correct.
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