Which situation is more likely to occur in a market economy than a command economy? (1 point) Responses People line up for cheap but scarce products. People line up for cheap but scarce products. A student is guaranteed a job out of college. A student is guaranteed a job out of college. An inventor designs and produces a new type of car. An inventor designs and produces a new type of car. A committee chooses which farms should receive new tractors.
An inventor designs and produces a new type of car.
The situation that is more likely to occur in a market economy than a command economy is: An inventor designs and produces a new type of car. In a market economy, where the allocation of resources and production decisions are determined by the interactions of buyers and sellers in the marketplace, individuals are free to innovate, design, and produce new products, like a new type of car. On the other hand, in a command economy, where the government controls the allocation of resources and production decisions, a committee would typically make decisions about which farms receive new tractors, and there is less room for individual innovation and entrepreneurship.
In a market economy, the situation of an inventor designing and producing a new type of car is more likely to occur than in a command economy. In a market economy, individuals and businesses have the freedom to innovate, create new products, and compete in the marketplace. They can take risks, invest in research and development, and bring their ideas to fruition without much interference from government regulations or control. As a result, there is a greater likelihood of entrepreneurs and inventors having the opportunity to design and produce new products like cars. On the other hand, in a command economy, the government has significant control over the allocation of resources and decision-making, including which industries or projects receive support. Therefore, a committee choosing which farms should receive new tractors is more likely to occur in a command economy, where the government plays a more prominent role in economic activities.
