Topic: Economic systems
3.
In a capitalistic economy:
A. consumers are not sovereign. B. markets are not competitive. C. there is a reliance on the market system. D. the government owns the means of production. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-01 Differentiate between a command system and a market system. Topic: Economic systems
4.
Which statement best describes a capitalist economy?
A. The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by government. B. The production of goods and services is determined primarily by government, but the allocation of goods and services is determined primarily by markets. C. The production and allocation of goods and services is determined primarily through markets. D. The production and allocation of goods and services is determined primarily through government. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 02-01 Differentiate between a command system and a market system. Topic: Economic systems