Question

Which events would be more common in a command economy than a market economy? Select all that apply.

A.
People with lower incomes have the same goods as people with higher incomes.

B.
People wait in long lines for cheap goods.

C.
New businesses are started to fill society’s unmet needs.

D.
Young college graduates have difficulties finding jobs.

E.
A great deal of food in a market is thrown out because people wait in long lines for cheap goods.

F.
Companies develop new and useful technologies.

Answer 1

What is allocation by need?

(1 point)
Responses

pricing goods based on want rather than need

pricing goods based on want rather than need

giving or selling goods only to people who most need them

giving or selling goods only to people who most need them

giving or selling goods to whoever will stand in line the longest

giving or selling goods to whoever will stand in line the longest

pricing goods so that even the most vulnerable members of society can afford them

Answer 2

B. People wait in long lines for cheap goods.
E. A great deal of food in a market is thrown out because people wait in long lines for cheap goods.