In market economies, most decisions are made by ___, while in command economies, most economic decisions are made by ___. Group of answer choices   The government; households and firms   Private citizens and firms; the government   Households; local leaders   Families, private businesses

Q: _______ What term implies that there shall be no government interference in the economy?a. market…

A: Types of Economies:- 1) Market Economy:- Under market economy, all the decision related to…

Q: The Biden administration's "Buy American" agenda proposes to increase the federal government's…

A: In a market, when people makes changes in their decision based on different market condition or…

Q: What sectors of the economy do you believe the government should take an increasing role, and what…

A: Economic growth implies a method of increase in real value and real. per capita financial gain.…

Q: Market economies are primarily characterized by ________. A) restricted consumer powers.   B) heavy…

A: Market economy: - The market economy is an economy where the production and pricing decisions are…

Q: Because of scarcity: Select one: a. all choices about wants and using resources must be made by…

A: The difference between limited resources and supposedly limitless needs is known as scarcity in…

Q: During the construction of a high way ,the government announces the amount of jobs created .This can…

A: Expenditures on construction of highway by the government is part of government expenditure which is…

Q: Suppose that Gilberto, an economist from a business school in Georgia, and Juanita, an economist…

A: The disagreement between these economists is most likely due to difference in values.…

Q: The statement that describes the term Scarcity is __________________ a. the government is spending…

A: The study of economics is needed due to the presence of scarcity. Scarcity is the primary factor due…

Q: 1. In Your Own Point of View.. Which is More Productive in the Three Sectors Of Production  and…

A: Primary sector is the most productive sector.

Q: Description Discuss the following statement by a leading economist: One of the mysteries of…

A: Private company: It refers to the companies that are managed by the private individuals. The private…

Q: It is to provide certain public goods and services, undertake public investments, and regulate…

A: The state's investment in specific assets, whether through central or local governments, publicly…

Q: Adam Smith, how would a market economy accomplish that harmony about which he describes?  What is…

A: The market economy is one in which the forces of supply and demand determine market price and…

Q: In market economies, most decisions are made by ___, while in command economies, most economic…

A: In a market economy, there is no government intervention, the market forces determined the…

Q: Which of the following is not true about a mixed economic system?   a Some of the major resources…

A: A mixed economic system is secured from the amalgamation of a free-market and a command economy. It…

Q: According to the invisible hand concept, the best way for a society to encourage the creation of…

A: As wants and desires of the individuals in the economy are unlimited but resources available to…

Q: Under __________, the means of production are owned by the government. a. Socialist economy b. Mixed…

A: An economic system can be defined as the system by which the available resources, goods, and…

Q: List the characteristics of the four different types of market structures and give an example of…

A: Answer: Market structure can be divided majorly into four categories, it includes, perfect market,…

Q: What is the government policy that supports research and development (R&D), doesn't involve the…

A: The process through which there is the creation of improved or new technologies that could help in…

Q: What is social responsibility? Can the government compel businesses in our country to abide by this…

A: In an economy, when an individual makes decision, his decision will influence the market when people…

Q: Comment on the statement:  “Increasing government spending is preferred to a cut in taxes when the…

A: A normative statement refers to a statement that is based on opinion rather than facts or figures.…

Q: Although it can sound complicated, nearly everything we do is related to the economy in some way.…

A: Economy  A complex system of linked trading, consumption, and production activities make up an…

Q: According to Adam Smith, the “invisible hand”refers to which of the following?a. The “best interests…

A: To explain the market hypothesis, Adam Smith introduced the concept of the “invisible hand”, and it…

Q: Imagine that the leaders of a poor nation with a centrally planned economy become willing to try a…

A: As we know that Economy is that system in society where people earn their livelihood. And engage in…

Q: . _______ What term implies that there shall be no government interference in the economy?a. market…

A: The term Laissez-Faire was originated in France by a group of Physician, who called themselves as…

Q: Adam Smith believed that a nation would produce the maximum wealth by relying on government to make…

A: Adam Smith is known as the father of capitalism due to his significant contribution to the findings…

Q: What is your major take away from Thomas Dye’s definition of public policy)?

A: To find : Highlights from thomas dye definition of public policy.

Q: Through economic reasoning, explain the interrelationship with markets and government.

A: There is a general law that determines the market's allocation of resources which reduces the…

Q: I struggling with understanding how the economic market runes without the government and what the…

A: Economic markets run without the intervention of the government by buyers and sellers ie the…

Q: Which of the following statements accurately represent ideas proposed by Adam Smith?     a) the…

A: Adam Smith was an economist who is known as the Father of Economics. He wrote a book on Economics-…

Q: Unlike a market economy, a command economy: a. Consumer sovereignty to make production decisions b.…

A: Economy of a country includes all the economic activities that are undertaken in the country.

Q: Why should design be a part of public policy?  Why do you say so?  Give examples to support your…

A: Public policy is the process that includes laws, rules and regulations, making or setting priorities…

Q: Question 4 of 10 A market economy is best described as an economy that: A. gives the government…

A: "An economic system include different systems used by businesses/governments to interact and to…

Q: economic programs were similar to and different from the social program that that FDR enacted in his…

A: The first 100 days of Franklin D. Roosevelt (FDR) preisdency began on 4th of March 1933 when he was…

Q: policies government can have in place  to increase perfect competition in the market

A: Perfect competition is a market system in which all producers and consumers have complete and…

Q: Which one of the following is not likely to occur in a mixed economy? a. Means of productions are…

A: Which one of the following is not likely to occur in a mixed economy? The answer is - b. Total…

Q: Voters in California are able to vote on propositions to create their own laws and through this…

A: In the California, it can be seen that voters can vote on propositions so that they can create their…

Q: what are the three institution of government that protect individuals right in a market economy,…

A: Market Economy Supply and demand, multiple economic forces, govern the creation of goods and…

Q: Which of the following is true of Common Sense? A. It called on the patriots to accept Parliament’s…

A: In the years 1775 and 1776, Thomas Paine penned the pamphlet titled "Common Sense," which consisted…

Q: According to public choice theory, policymakers Group of answer choices place the interests of the…

A: Public choice theory is related to public welfare and the choices government make for the…

Q: Which of the following is not a way to the us government intervenes in the economy a. Minimum wage…

A: Certain public products and services are provided by the government because there is no market for…

Q: Within a laissez faire system, the government should only perform those activities that the private…

A: An economic that works on the concept of the free market mechanism is essentially a capitalist…

Q: Choose the one that is correct about capitalist economic system. a. Private ownership of factors of…

A: . The main features of capitalism are economic freedom, voluntary exchange, private property rights,…

Q: Draw a production possibilities model for North Korea and label the Y axis Guns, and the X axis…

A: The economic situation that is being depicted in the free market by an inefficient distribution of…