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Economy

Economy

Karly Adeline
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Economy

Karly Adeline

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20 questions

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# 1
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
In a market economy, who largely determines what goods and services are produced and at what price?
Consumers and producers
# 3
A mixed economy combines elements of both market and command economies.
# 4
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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