Economics ch.2

Which of the following is a disadvantage of a market economy?

Which of these statements describes a disadvantage of a traditional economy?

Which of the statements BEST describes the communist ideal?

What kind of economy offers uniformity in wages regardless of individual productivity?

Which of these statements is deceptive of a market economy?

Which of these is a major advantage of a market economy?

In what type of economy does the government decide whether houses or apartments will be built?

Which of the following states an advantage of a traditional economy?

In which of these systems is the government MOST likely to provide people with goods and services they could not otherwise afford?

How is the principle of "There's No Such Thing As A Free Lunch" illustrated in a socialist economy?

Which of the following is a feature of a command economy that distinguishes it from a socialist economy?

Which statement describes a disadvantage of a command economy?

Which of the following of these economic systems have the LEAST in common?

In what kind of economy does the government own some of the factors of production?

Which of these is an accurate statement about mixed economies today?

Which of the following explains why products made under a command economy are more likely to be low quality?

Which type of economy is most prevalent in the world today?

How are economic transactions shaped in a traditional economy?