match the hesding a-c to the texts 1-3 a. mixedb. free marketc. command market2. In aeconomy, prices aredetermined by consumers, businesses butthe government make some decisions.These economic systems are the mostcommon type.1. In aeconomy, prices aredetermined by supplyand demand throughfree competition.Production is alsodecided by supply anddemand. Consumersdecide economic policyand prices. of goodsand services.3. In anot determined by consumers, theeconomy, Prices aregovernment make the decisions. Thereare not really any that are pure marketsand most countries are a mixture.

The economics as a study is based upon the basic idea that the resources which are present with the…

a. mixed b. free market c. command market 2. In a economy, prices are determined by consumers, businesses but the government make some decisions. These economic systems are the most common type. 1. In a economy, prices are determined by supply and demand through free competition. 3. In a not determined by consumers, the economy, Prices are Production is also decided by supply and demand. Consumers decide economic policy and prices. of goods and services. government make the decisions. There are not really any that are pure markets and most countries are a mixture.

a. mixed b. free market c. command market 2. In a economy, prices are determined by consumers, businesses but the government make some decisions. These economic systems are the most common type. 1. In a economy, prices are determined by supply and demand through free competition. 3. In a not determined by consumers, the economy, Prices are Production is also decided by supply and demand. Consumers decide economic policy and prices. of goods and services. government make the decisions. There are not really any that are pure markets and most countries are a mixture.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 2SCQ: Return to the example in Figure 2.4. Suppose there is an improvement in medical technology that...

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