Which events would be more common in a command economy than a market economy? Select all that apply.
(1 point)
Responses
People with lower incomes have the same goods as people with higher incomes.
People with lower incomes have the same goods as people with higher incomes. - only 2 answers are allowed
People wait in long lines for cheap goods.
People wait in long lines for cheap goods. - only 2 answers are allowed
New businesses are started to fill society’s unmet needs.
New businesses are started to fill society’s unmet needs. - only 2 answers are allowed
Young college graduates have difficulties finding jobs.
Young college graduates have difficulties finding jobs. - only 2 answers are allowed
A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
A great deal of food in a market is thrown out because people wait in long lines for cheap goods. - only 2 answers are allowed
Companies develop new and useful technologies.
None of the events listed would be more common in a command economy than in a market economy. In a command economy, the government controls the allocation of resources and makes decisions about production and distribution. In a market economy, these decisions are made by individuals and businesses based on supply and demand. Consequently, events such as people having the same goods regardless of income, waiting in long lines for cheap goods, new businesses being started to fill unmet needs, young college graduates having difficulty finding jobs, and a great deal of food being thrown out due to long lines for cheap goods do not typically occur in a command economy. On the other hand, companies developing new and useful technologies can occur in both command and market economies.
Which events would be more common in a command economy than a market economy? Select all that apply.
(1 point)
Responses
People with lower incomes have the same goods as people with higher incomes.
People with lower incomes have the same goods as people with higher incomes. - only 2 answers are allowed
People wait in long lines for cheap goods.
People wait in long lines for cheap goods. - only 2 answers are allowed
New businesses are started to fill society’s unmet needs.
New businesses are started to fill society’s unmet needs. - only 2 answers are allowed
Young college graduates have difficulties finding jobs.
Young college graduates have difficulties finding jobs. - only 2 answers are allowed
A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
A great deal of food in a market is thrown out because people wait in long lines for cheap goods. - only 2 answers are allowed
Companies develop new and useful technologies.
In a command economy, where the government controls the allocation of resources and makes decisions about production and distribution, the following events would be more common compared to a market economy:
1. People with lower incomes have the same goods as people with higher incomes.
2. People wait in long lines for cheap goods.
In a command economy, the events that would be more common than in a market economy are:
1. People wait in long lines for cheap goods.
2. Young college graduates have difficulties finding jobs.