Question

7 multiple choice 2 points
in which economic system does the government have the most control over a countrys economy?
mixed
market
command
traditional
8 multiple choice 2 points
which of these is a characteristic of a market economy?
limited business rights
competition between businesses
government ownership of businesses
9 multiple choice 2 points
in which economic system does the government control what products will be made, how many will be made, and how they will be made?
mixed economy
command economy
traditional economy
free market economy

Explanation:

• Question 7: In a command economic system, the government has extensive control over production, distribution, and resource allocation. In a mixed economy, there is a blend of government and private control. In a market economy, private entities have more control. In a traditional economy, customs and traditions guide economic activity.
• Question 8: A market economy is characterized by competition between businesses as they vie for customers. Limited business rights are not a feature. Government ownership of businesses is more common in command or some mixed economies.
• Question 9: In a command economy, the government decides what products are made, how many, and the production methods. In a mixed economy, there is shared control. In a traditional economy, it's based on customs. In a free - market economy (similar to market economy), private decisions dominate.

Answer:

1. C. command
2. B. competition between businesses
3. B. command economy