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Economy
Karly Adeline
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# 1

Multiple Choice

In a traditional economy, how are economic decisions primarily made?

  • Through supply and demand in a free market
  • By government planning and regulation
  • Based on customs, traditions, and beliefs
  • Through a combination of market and government forces

# 2

Short Answer

In a market economy, who largely determines what goods and services are produced and at what price?

  • Consumers and producers

# 3

OX

A mixed economy combines elements of both market and command economies.

# 4

Multiple Choice

Which economic system is characterized by private ownership of resources and voluntary exchange?

  • Traditional Economy
  • Market Economy
  • Command Economy
  • Mixed Economy
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