Chapter 02 - Understanding How Economics Affects Business
249. (p. 42) Both socialism and communism are variations of: A. Command economies. B. Competitive economies. C. Free-market economies. D. Plutocratic systems.
AACSB: Reflective Thinking Bloom's: Knowledge Learning Objective: 02-04 Analyze the trend toward mixed economies. Topic: The Trend Toward Mixed Economies
250. (p. 42-43) A major trend in the world today is that: A. Free-market economies are moving more toward socialism and socialist economies are moving more toward capitalism. B. Productivity in the service sector is increasing much more rapidly than productivity in agriculture and manufacturing. C. Governments in socialist economies are increasing their use of social programs and relying on higher tax rates to finance these programs. D. Governments in countries with capitalist economies are paying less attention to environmental concerns and issues involving social equality.
AACSB: Reflective Thinking Bloom's: Knowledge Learning Objective: 02-04 Analyze the trend toward mixed economies. Topic: The Trend Toward Mixed Economies
251. (p. 42) A command economic system is characterized by: A. Reliance on the forces of supply and demand to determine what is produced. B. Reliance on the government to determine what is produced and who gets the output. C. An extremely rapid rate of economic growth. D. Freedom of choice and freedom of competition.
AACSB: Reflective Thinking Bloom's: Knowledge Learning Objective: 02-04 Analyze the trend toward mixed economies. Topic: The Trend Toward Mixed Economies
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