Multiple Choice
In a free market system, decisions regarding the use of scarce resources are made:
A) by private companies alone.
B) by individuals and private companies.
C) by individuals alone.
D) by individuals, private companies, and government officials.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The command approach is based on:<br>A) public
Q3: The opportunity cost of attending a Friday
Q4: Assuming that consumption goods are on the
Q5: Economists do not use the laboratory methods
Q6: A shift in the production-possibilities curve will
Q8: The discussion regarding cod fishery in the
Q9: The saying "Time is money" refers to:<br>A)
Q10: Scarcity could be reduced if:<br>A) we all
Q11: Theories developed by economists:<br>A) need 100 percent
Q12: The science of economics is primarily concerned