Multiple Choice
A command system is characterized by:
A) reliance on the government to determine what is produced and who gets the output.
B) freedom of choice and freedom of competition.
C) reliance on the forces of supply and demand to determine what is produced.
D) an extremely rapid rate of economic growth.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Explain what the business cycle is.
Q3: Adam Smith felt that incentives to seek
Q4: One of the most significant problems faced
Q5: Both socialism and communism are variations of:<br>A)competitive
Q7: The total value of a country's output
Q9: is the popular name for a free-market
Q10: Economist Sue Pligh is examining how consumers
Q11: In the long run,the actual market price
Q26: History shows that free-market capitalism leads to
Q222: Some wages, tax brackets, interest rates, and