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What is a market economy? An economic system taking from each according to ability and giving to those in need A government-regulated economic system An economic system with only the most educated having the power An economic system regulated by supply and demand, not the government
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Who makes the decisions in a market economy? The educated The government Buyers and sellers The wealthy
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Who owns most of the resources, equipment, buildings, goods, and services in a market economy? The poor Individuals and private businesses The wealthy Government
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What happens with "free enterprise"? Private entrepreneurs are free to get and use resources. Entrepreneurs are free to produce goods and services and sell them at a price they choose. Sellers are free to sell in markets of their choice. Consumers are free to buy any goods and services they choose. Workers are free to work wherever they choose. All of the above
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What is the driving force of a market economy? A motive of self-interest Wanting to put government first The richest citizens bearing the burden of taxes and government services A motive of helping others
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What pressure limits the abuse of economic power in a market economy? Price Supply Demand Competition
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1. |
What is a market economy? An economic system regulated by supply and demand, not the government A government-regulated economic system An economic system taking from each according to ability and giving to those in need An economic system with only the most educated having the power
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2. |
Who makes the decisions in a market economy? Buyers and sellers The wealthy The educated The government
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3. |
Who owns most of the resources, equipment, buildings, goods, and services in a market economy? Government The poor The wealthy Individuals and private businesses
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4. |
What happens with "free enterprise"? Private entrepreneurs are free to get and use resources. Entrepreneurs are free to produce goods and services and sell them at a price they choose. Sellers are free to sell in markets of their choice. Consumers are free to buy any goods and services they choose. Workers are free to work wherever they choose. All of the above
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5. |
What is the driving force of a market economy? Wanting to put government first A motive of helping others The richest citizens bearing the burden of taxes and government services A motive of self-interest
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6. |
What pressure limits the abuse of economic power in a market economy? Supply Demand Price Competition
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