Types of Economies

Question 1

Resources are owned by individuals

Accepted Answer

market, mixed

Question 2

Economic decisions are made by individuals who compete to make profits based on supply and demand.

Accepted Answer

mixed, market

Question 3

Profits, not quotas, are the motive for increasing work.

Accepted Answer

market, mixed

Question 4

Purpose of a business is to provide goods and services, not to make a profit.

Accepted Answer

command

Question 5

The competition sets the price and increases the quality of products.

Accepted Answer

market, mixed

Question 6

The government and individuals share the economic decision making process.

Accepted Answer

mixed

Question 7

Individuals have little, if any, influence over economic activties.

Accepted Answer

command

Question 8

Consumers have few, if any, choices in the market place.

Accepted Answer

command

Question 9

No competition

Accepted Answer

command

Question 10

The choices people make are determined by the environment.

Accepted Answer

Traditional

Questions 10