Question

Which of the following is an example of a benefit of government involvement in the economy?
A. government bans on necessary goods
B. government regulation of minimum wage
C. government control of all factors of production
D. government control of all outcomes of production

Answer 1

Mixed economies combine elements from
A. mixed and market economies.
B. market and command economies.
C. market and traditional economies.
D. traditional and command economies.

Answer 2

Which of the following DOES NOT exist in a command economy?
A. goods
B. individuals
C. collectivization
D. consumer sovereignty

Answer 3

Which of the following would be exchanged in a factor market?
A. a textbook
B. a tract of land
C. an automobile
D. a furnished home

Answer 4

The continual flow of the free market is driven by
A. supply and price.
B. businesses and firms.
C. individuals and households.
D. self-interest and competition.

Answer 5

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Answer 6

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Answer 7

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Answer 8

The answers below are in the order of the questions

b
b
d
b
b