#1
Which of the following is a characteristic of a traditional economic system?
1 answered
#2
In a command economy, who typically makes decisions regarding what goods and services will be produced?
1 answered
#3
What is a characteristic of a market economy?
1 answered
#4
In a command economy, who determines the prices of goods and services?
1 answered
#5
Which economic system is characterized by private ownership of resources and the pursuit of profit?
1 answered
#6
Which economic system advocates for minimal government intervention and emphasizes the role of free markets?
1 answered
#7
In a mixed economy, which entities play a role in allocating resources and making economic decisions?
#8
Which economic system emphasizes collective ownership of resources and aims for equality in wealth distribution?
1 answered
#9
Which economic system allows for significant government intervention in economic activities, with the aim of ensuring social welfare and reducing inequality?
#10
Which economic system is characterized by the absence of private ownership of resources and central planning by the government?
#11
What is a defining characteristic of a market economy?
#12