The correct response is:
a market economy
In which economic system are price signals, resulting from supply and demand forces, the only determining factor for the goods and services that the economy produces?(1 point)
Responses
a traditional economy
a traditional economy
a market economy
a market economy
a mixed economy
a mixed economy
a command economy
9 answers
What is the basic economic problem that societies must solve?(1 point)
Responses
How will the goods and services be produced?
How will the goods and services be produced?
How to allocate resources in order to best satisfy the needs and wants of people.
How to allocate resources in order to best satisfy the needs and wants of people.
What goods and services should be produced?
What goods and services should be produced?
Who will consume the goods and services?
Responses
How will the goods and services be produced?
How will the goods and services be produced?
How to allocate resources in order to best satisfy the needs and wants of people.
How to allocate resources in order to best satisfy the needs and wants of people.
What goods and services should be produced?
What goods and services should be produced?
Who will consume the goods and services?
The basic economic problem that societies must solve is:
How to allocate resources in order to best satisfy the needs and wants of people.
How do property rights influence the exchange of goods and services in the market?(1 point)
Responses
Property rights determine ownership of resources among businesses, individuals, and governments.
Property rights determine ownership of resources among businesses, individuals, and governments.
Property rights prevent producers from exhibiting profit-seeking behavior.
Property rights prevent producers from exhibiting profit-seeking behavior.
Property rights allow consumers' wants and needs to control the output of producers.
Property rights allow consumers' wants and needs to control the output of producers.
Property rights prevent market failures from arising in an economy.
Responses
Property rights determine ownership of resources among businesses, individuals, and governments.
Property rights determine ownership of resources among businesses, individuals, and governments.
Property rights prevent producers from exhibiting profit-seeking behavior.
Property rights prevent producers from exhibiting profit-seeking behavior.
Property rights allow consumers' wants and needs to control the output of producers.
Property rights allow consumers' wants and needs to control the output of producers.
Property rights prevent market failures from arising in an economy.
The correct response is:
Property rights determine ownership of resources among businesses, individuals, and governments.
A traditional economy is an economy where ____________(1 point)
Responses
economic decisions are made by the government for some resources and are based on supply and demand forces for others.
economic decisions are made by the government for some resources and are based on supply and demand forces for others.
economic decisions are based on traditions, culture, and beliefs.
economic decisions are based on traditions, culture, and beliefs.
economic decisions are made by the government.
economic decisions are made by the government.
economic decisions are based on price signals from supply and demand forces.
Responses
economic decisions are made by the government for some resources and are based on supply and demand forces for others.
economic decisions are made by the government for some resources and are based on supply and demand forces for others.
economic decisions are based on traditions, culture, and beliefs.
economic decisions are based on traditions, culture, and beliefs.
economic decisions are made by the government.
economic decisions are made by the government.
economic decisions are based on price signals from supply and demand forces.
The correct response is:
economic decisions are based on traditions, culture, and beliefs.
Which economy has the highest level of consumer sovereignty?(1 point)
Responses
market economy
market economy
command economy
command economy
traditional economy
traditional economy
mixed economy
Responses
market economy
market economy
command economy
command economy
traditional economy
traditional economy
mixed economy
The correct response is:
market economy
1 answer