Which type of economic system has the highest level of government control?
A.
traditional economy
B.
market economy
C.
command economy
D.
Which of the following is a feature of a good budget?
A.
money reserved for saving
B.
income that is less than its expenses
C.
high use of credit
D.
economic incentives
What happened to choice D in #1?
A and C are incorrect for these.
Someone will check your answers if you post them.
ok so 1A 2 C
To determine which type of economic system has the highest level of government control, we can evaluate the characteristics of the options provided.
A. Traditional economy: In a traditional economy, economic decisions are based on cultural or religious traditions. There is generally little to no government involvement or control over the economy. Therefore, this option does not have the highest level of government control.
B. Market economy: In a market economy, economic decisions are left to the interactions of individuals and businesses in the marketplace. The government's role is limited to enforcing laws, protecting property rights, and ensuring fair competition. Consequently, this option does not have a high level of government control.
C. Command economy: In a command economy, also known as a centrally planned economy, the government has full control over economic activities. The government determines what goods and services are produced, how they are produced, and how they are distributed. This high level of government control makes command economies the option that matches the question.
D. There is no option D in this question.
Therefore, the correct answer is C. Command economy.
Now, let's address the second question:
A good budget should include certain features to effectively manage personal finances. Let's evaluate the options provided:
A. Money reserved for saving: This is indeed a feature of a good budget. Saving is an essential part of financial planning, and setting aside money for savings helps build an emergency fund or work towards long-term goals.
B. Income that is less than its expenses: This option is not a feature of a good budget. A good budget aims to ensure that income is greater than or equal to expenses to avoid accumulating debt or facing financial difficulties.
C. High use of credit: High use of credit is not a feature of a good budget. Relying excessively on credit can lead to debt accumulation and financial instability.
D. Economic incentives: While economic incentives can be beneficial in certain situations, they are not inherently a feature of a good budget. Budgeting is more focused on managing income and expenses rather than relying on external incentives.
Based on these evaluations, the correct feature of a good budget is A. Money reserved for saving.