A)
Which statement best describes an economic system?
(1 point)
the method of production, resource use, and distribution of goods in a region
the network of relationships that exist between individuals and groups in a region
the way a region makes official government policies and decisions
the process that people use in choosing goods and services
The method of production, resource use, and distribution of goods in a region is the best description of an economic system.
A)
What forces determine the distribution of goods in a traditional economy?
(1 point)
competition between businesses
customs and beliefs of a group
government decision-making
government and business policies
Customs and beliefs of a group determine the distribution of goods in a traditional economy.
A)
What is one way that socialist and communist economic systems are similar?
(1 point)
Both have public ownership of businesses.
Both use traditions to determine production.
Both have competition between business.
Both have little government regulation.
Both have public ownership of businesses is one way that socialist and communist economic systems are similar.
A)
Which best describes the production of goods in a free enterprise economic system?
(1 point)
production based on traditional customs
production based on government regulation
production based on decisions of cooperative groups
production based consumer spending