We've found 7 Free Market Economy tests

Conservatives And Liberals Free Market Economy Laissez Faire Economics World History
Topic 5 lesson 1 Study Guide – Flashcards 21 terms
Patsy Brent avatar
Patsy Brent
21 terms
Centrally Planned Economies Centrally Planned Economy Economics Free Market Economy
Economics Chapter 2 Guided Reading – Flashcards 5 terms
Thomas Alday avatar
Thomas Alday
5 terms
Centrally Planned Economies Circular Flow Diagram Economics Free Market Economy Production Possibility Frontier Supply And Demand
Macroeconomics Test Questions – Flashcards 96 terms
Bettina Hugo avatar
Bettina Hugo
96 terms
Basic Economic Problem Costs And Benefits Economics Free Market Economy Needs And Wants Resources Are Scarce
Econ Unit 1 Test- What is Economics? – Flashcards 95 terms
Trina Garrison avatar
Trina Garrison
95 terms
Circular Flow Model Communism And Socialism Economics Free Market Economy Public Goods And Services
Economic Systems and Macroeconomics: Crash Course Economics #3 – Flashcards 14 terms
Henry Smith avatar
Henry Smith
14 terms
AP Environmental Science Command And Control Ecological Economics Environmental Economics Environmental Science Free Market Economy Toxic Substances Control Act
Chapter 6 Homework: Environmental Science 5 terms
Ann Ricker avatar
Ann Ricker
5 terms
1940s And 1950s Economic Systems Free Market Economy Human Nature Public Assistance Programs Social Policy Supplemental Security Income
Chapters 1 and 2 Social Work – Flashcards 34 terms
Anthony Richie avatar
Anthony Richie
34 terms
in a free market economy the factor market involes the following type of what exchange
Firms purchases factors of production from households
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how do public goods limit a free market economy
they allow the government, and not consumers, to make some economic decisions
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A free market economy is one in which ________. a. individuals determine what to produce with some level of government involvement b. privately owned, profit-seeking enterprises are converted to government-owned production and services c. the government or other centralized group determines what to produce d. a tightly knit social network barters and trades for goods at a market e. individuals and private firms make decisions based on consumer needs and wants
e. individuals and private firms make decisions based on consumer needs and wants
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Which of the follwoing statements is TRUE?. a. Many times people have to determine what their needs are verses what their wants are. b. command economies are more concerned with efficiency than equality c. resources are typically unlimited while wants are limited d. in a free market economy, all needs and wants are promised to each individual.
Many times people have to determine what their needs are verses what their wants are.
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In a free enterprise/free market economy, who ultimately decides what to produce?
Consumers
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12. Why does even a free market economy need some government intervention?
provide for things market does not
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Why does even a free market economy need some government intervention?
To provide for things that the marketplace does not address
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In a free market economy, innovative products or services will ultimately be judged
by the consumer’s willingness to purchase the product or service.
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Why does poverty exist in a free market economy?
Because of welfare and other means of distributing to the poor can be taken out of hand.
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the social thinker whos idea supported the operation of a free market economy most was
adam smith
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