EBK MACROECONOMICS FOR TODAY
9th Edition
ISBN: 8220101425966
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 19, Problem 14SQ
To determine
The economic system that provides private ownership.
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Students have asked these similar questions
Most economies in the world are built in a way that both the government and the private sector make economic decisions together. What type of economy is being described here?
a.
Capitalist economy
b.
Socialist economy
c.
Mixed economy
d.
Communist economy
In which of the following economic system does
the government owns the factors of production
and distribution?
a. Capitalist Economy
b. Command Economy
c. Mixed Economy
d. Private Economy
An economic system:
a. must choose pure capitalism to adequately answer the three economic questions.
b. must answer the three economic questions to the satisfaction of everyone in society.
c. is a set of social institutions and mechanisms organized to answer society's three primary economic questions.
d. can address problems of scarcity only by embracing the social institution of private property.
e. must not allow some members of society to gain an unfair advantage when answering the three economic questions.
Chapter 19 Solutions
EBK MACROECONOMICS FOR TODAY
Ch. 19.3 - Prob. 1GECh. 19.3 - Prob. 2GECh. 19 - Prob. 1SQPCh. 19 - Prob. 2SQPCh. 19 - Prob. 3SQPCh. 19 - Prob. 4SQPCh. 19 - Prob. 5SQPCh. 19 - Prob. 6SQPCh. 19 - Prob. 7SQPCh. 19 - Prob. 8SQP
Ch. 19 - Prob. 1SQCh. 19 - Prob. 2SQCh. 19 - Prob. 3SQCh. 19 - Prob. 4SQCh. 19 - Prob. 5SQCh. 19 - Prob. 6SQCh. 19 - Prob. 7SQCh. 19 - Prob. 8SQCh. 19 - Prob. 9SQCh. 19 - Prob. 10SQCh. 19 - Prob. 11SQCh. 19 - Prob. 12SQCh. 19 - Prob. 13SQCh. 19 - Prob. 14SQCh. 19 - Prob. 15SQCh. 19 - Prob. 16SQCh. 19 - Prob. 17SQCh. 19 - Prob. 18SQCh. 19 - Prob. 19SQCh. 19 - Prob. 20SQ
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Similar questions
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- Economic systems differ according to which two main characteristics? Select one: A. the technology used in production and the quantity and quality of natural resources B. the political system in place and the degree of scarcity facing the economy C. who owns the factors of production and the methods used to coordinate economic activity D. how goods are produced and who gets themarrow_forwardThere are different components that make up a society. It includes all the following, except: a. Population b. Social relations C. Social institutions d. Culturearrow_forward5. Cuba dictates and decides most of the economic decisions. Identify the type of economic system in Cuba. a. Mixed economy b. Market economy c. Capitalist economy d. Command economyarrow_forward
- 1. Identify the four basic inputs to an economic system, and give examples for each of them.arrow_forward34. If the resources in an economy is fully owned by the government, such economies are called_____. a. Mixed economy b. Economic system c. Command economy d. Capitalist economyarrow_forwardChoose the one that is correct about capitalist economic system. a. Private ownership of factors of production b. Absence of technology c. Maximization of social welfare d. Unlimited government controlarrow_forward
- The economic institution that transforms factors of production into consumer goods is: a. a firm. b. the government. c. lending institutions such as banks and credit unions. d. the stock market.arrow_forwardWhich of the following best describe what we mean byresources in economics? A. The natural resources, like water and trees. B. The factors of production used to produce goods and services. C. The human resources, like workers. D. The capital resources, like tools and buildings.arrow_forwardThe idea that because of scarcity, producing more of one good or service means producing less of another good or service refers to the economic concept of A. a trade-off. B. equity. C. optimization. D. efficiency.arrow_forward
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