Order each of the statements with regard to whether the economic activities in each statement are more market oriented (laissez- faire) or command oriented (centrally planned). Market-oriented activities Buyers and sellers make all production and consumption decisions. The government makes all production and consumption decisions. The government attempts to induce certain production and consumption decisions using monetary incentives. The government regulates some production and consumption decisions. Command-oriented activities Answer Bank

Order each of the statements with regard to whether the economic activities in each statement are more market oriented (laissez- faire) or command oriented (centrally planned). Market-oriented activities Buyers and sellers make all production and consumption decisions. The government makes all production and consumption decisions. The government attempts to induce certain production and consumption decisions using monetary incentives. The government regulates some production and consumption decisions. Command-oriented activities Answer Bank

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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