AnswersFL-2100310-United States History AComparing Economic Systems

Comparing Economic Systems Answers

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Which questions do economic systems help answer? Choose three correct answers.Which goods should always be produced?What should be produced?How should goods be produced?Who should produce the goods being sold?Who should goods be produced for?

A
Which goods should always be produced?
B
What should be produced?
C
How should goods be produced?
D
Who should produce the goods being sold?
E
Who should goods be produced for?
2
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✔ commandfree markettraditional

Answer not available
3

✔ commandfree markettraditional

Answer not available
4

✔ command marketfree marketmixed market

Answer not available
5

Read the descriptions of the economic systems used by two different countries, and select the system that best matches. Businesses in this country thrive on competition. If you can make something better and cheaper, then more people will buy from you than from your competitors. In this country, the government decides what should be produced to best meet our goals for the next three years. My government controls our supply lines, so getting goods to people is very efficient and inexpensive.

Answers:
Selection 1:free market
Selection 2:command
Selection 3:command
6

Which option best describes the advantages of the US economy?

A
Production goals are set each year and rarely change.
B
Markets are heavily regulated, which leads to more stable pricing.
C
Competition leads to innovation and lower prices.
D
Monopolies help establish supply lines and infrastructure.
7

Read the descriptions of the economic systems used by two different countries and select the system that best matches. My government collects taxes to fund free health care and benefits for people who are unable to work. In my country, our economy is driven by the needs of the market, but the government will occasionally step in to make sure everything is working like it’s supposed to. The government never interferes with private businesses in my country.

Answers:
Selection 1:mixed
Selection 2:mixed
Selection 3:free market
8

Read the economic goals, and select which goal best fits the ideals of free, command, or mixed market economies. Producers can make their own choices. Markets should operate predictably. Everyone has the same economic opportunities. Economic planning should be centralized.

Answers:
Selection 1:free market
Selection 2:mixed market
Selection 3:free market
Selection 4:command market
9

Compare free market and command systems. Which statement can be confirmed using the chart?

A
Free market systems generate more GDP than command systems.
Option A
B
Command systems produce more GDP per capita than free market systems.
Option B
C
Free market systems generate more GDP per capita than command systems.
Option C
D
Command systems produce less GDP than free market systems.
Option D
10

While the Cuban economy provides strong social support systems for its citizens, it:

A
lacks flexibility, which makes responding to emergencies more difficult.
B
does not provide for retirement.
C
has high unemployment rates.
D
does not help with utilities or food stability.
11

Compare mixed and free market systems. Which statement can be confirmed using the chart?

Answer not available
12

✔ mixedfree markettraditional

Answer not available
13

command marketfree market✔ mixed market

Answer not available
14

mixed✔ free markettraditional

Answer not available
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command market✔ free marketmixed market

Answer not available

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