8. Economic models like the graphs or even mathematical equations that represent economic patterns or theories. are not physical models, but instead are diagrams or A. financial capital market B. circular flow diagram C. financial investment market D. Specialization Model 9. In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: A. all consumers. B. buyers and sellers. C. producers and input suppliers. D. producers and government planning committees.

8. Economic models like the graphs or even mathematical equations that represent economic patterns or theories. are not physical models, but instead are diagrams or A. financial capital market B. circular flow diagram C. financial investment market D. Specialization Model 9. In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: A. all consumers. B. buyers and sellers. C. producers and input suppliers. D. producers and government planning committees.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 1PA

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Similar questions

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1. Write a sentence or two defining the following terms in your own words. Give examples of each. a. Planned System b. Public Goods c. Recession
1. In a command system a) self-interest motivates and commands each business firm's decisions and actions. b) the head of each family decides and commands what to do with the family's resources. c) a government-appointed planning board makes production and allocation decisions. d) market traders command what outputs are produced and how they are allocated.
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