AnswersFL-2100310-United States History AComparing Economic Systems

Comparing Economic Systems Answers

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1
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Which phrase best describes the characteristics of a monopoly?

A
a group of companies that produce and sell products at similar prices
B
a group of companies that encourage competition by creating new products
C
a large company that dominates its industry with little or no competition
D
a large company that efficiently produces high-quality goods or services
2
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How are prices determined differently in a free-market economy versus a command economy?

A
In a command economy, consumers control prices, while in a free-market economy, the government controls prices.
B
In a command economy, manufacturers control prices, while in a free-market economy, consumers control prices.
C
In a command economy, the government controls prices, while in a free-market economy, the market controls prices.
D
In a command economy, the market controls prices, while in a free-market economy, manufacturers control prices.
3

Question text not available

Question illustration
N
North Korea
I
Iran
I
India
N
New Zealand
Option N
4

best

t
to make economic decisions guided by tradition and culture
t
to provide everyone access to the same economic opportunities
t
to centralize economic planning and meet production goals
t
to ensure that all involved in the economy are able to benefit
5

Read the following facts about Cuba’s economy:Cubans have access to disability and retirement benefits. Cuba recently recognized the existence of private property.Tax policies are designed to prevent the growth of wealth.Financial assistance is provided for housing, utilities, and food.

C
Cubans have access to disability and retirement benefits.
C
Cuba recently recognized the existence of private property.
T
Tax policies are designed to prevent the growth of wealth.
F
Financial assistance is provided for housing, utilities, and food.
6

What is one way a command economy may likely benefit the lives of most private citizens?

b
by allowing people to make most economic decisions
b
by keeping unemployment low and wages high
b
by providing access to nationalized healthcare
b
by promoting a variety of goods and services
7

Country

S
Switzerland
I
Ireland
V
Vietnam
F
France
8

Which example suggests a command economy?

T
The government regulates a private refinery’s release of pollutants into the air.
T
The government instructs a factory to make 5,000 T-shirts.
A
A shop owner increases production of a toy in high demand and short supply.
A
A family trades vegetables from their garden for meat.
9

Question text not available

Question illustration
A
North Korea
B
Iran
C
India
D
New Zealand
Option D
10

What is one advantage a command economy offers workers that a market economy does not?

j
job security
h
high wages
c
career options
a
advancement opportunities

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