In a planned economy, prices of commodities are controlled by _________.A.Supply and demandB.Producers and consumersC.The governmentD.Private enterprises
What is likely to happen if the price of a product goes up?A.The supply is likely to increase.B.The supply is likely to decrease.C.The demand is likely to cause scarcity.D.The demand is likely to increase.
Which of the following is a sign of a strong economy?A.An increase in GDPB.A shrinking economyC.An increase in unemploymentD.A decrease in spending power
Which two factors and their interaction regulate the market economy? A. Goods and services B. Producers and consumers C. Product-based and service-based businesses D. Public and private sectors Please select the best answer from the choices provided
Which of the following is an indirect competitor for a company that makes chocolate chip cookies?A.Another company that makes chocolate chip cookiesB.A company that makes potato chipsC.A company that makes baking pansD.A company that makes brownies
What does scarcity force people to do? A. They produce commodities. B. They make choices. C. They consume products. D. They increase inflation. Please select the best answer from the choices provided
What is a commodity? A. Something that producers are unable to sell to consumers. B. A resource that is available in unlimited quantities. C. An exchange between a producer and a consumer. D. Something of value that can be bought, sold, or traded. Please select the best answer from the choices provided
In capitalism, what does competition do for consumers?A.It limits the number of choices consumers have.B.It prevents consumers from being entrepreneurs.C.It lets consumers create monopolies.D.It keeps prices fair for consumers.
Which of the following commodities is a good?A.A swimming lessonB.A deskC.House cleaningD.Dog walking
Did you find these answers helpful?