Asked by srdasef
Which situation is more likely to occur in a market economy than a command economy?
(1 point)
People line up for cheap but scarce products.
A student is guaranteed a job out of college.
An inventor designs and produces a new type of car.
A committee chooses which farms should receive new tractors.
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An inventor designs and produces a new type of car.
Explanation: Market economies reward innovation and allow private individuals/firms to create and bring new products to market. The other options describe features of command economies (shortages/queues, guaranteed jobs, central allocation by committees).
Explanation: Market economies reward innovation and allow private individuals/firms to create and bring new products to market. The other options describe features of command economies (shortages/queues, guaranteed jobs, central allocation by committees).
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