Answers OC27 US GOVT-2106310-Sem-Meadows Unit 4 TestQuestion 22

22

QuizMultiple Choice

Unit 4 Test

Question 22 • (OC27) US GOVT-2106310-Sem-Meadows

Which statement best describes the function of an economic system?

Answer

A

It determines how a country will spend the money it makes selling goods and services to other countries.

B

It examines how effectively goods are being produced and how well employees are being treated.

C

It decides what should be produced, how it should be produced, and for whom it should be produced.

D

It creates regulatory organizations designed to protect owners, workers, the environment, and the country.

Explanation

An economic system organizes how a society uses its resources and answers three basic questions: what goods and services to produce, how to produce them, and who will receive them. Choice C states these three questions. The other choices describe narrower activities, such as trade spending, evaluating production, or creating regulations.

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