Econ Macro2 Questions with Correct Answers Fully Solved Latest 2025
Which of the following is the reason why every society needs to develop an economic system?
Multiple choice question.
Every society has unlimited resources but limited wants.
Every society has limited resources and wants.
Every society faces the economizing problem.
Every society is destined to flourish and grow. - Answers Every society faces the economizing problem.
Which of the following describe the concept of laissez-faire?
Multiple select question.
A market system in which the role of government is unlimited
A market system in which the role of government is limited to protecting private property
A market system in which only mutually beneficial economic transactions are completed
A market system in which the role of government is to correct market failures - Answers A market
system in which the role of government is limited to protecting private property
A market system in which only mutually beneficial economic transactions are completed
Communism exhibits all the characteristics of a ______ system.
Multiple choice question.
,command
mixed
market
laissez-faire - Answers command
The term "laissez-faire" refers to
Multiple choice question.
mixed market or mixed capitalism.
limiting the government's interference in the economy.
the government as the dominant force in the economy.
allowing the government to significantly interfere in the economy. - Answers limiting the government's
interference in the economy.
What is the command system also known as? (Check all that apply.)
Multiple select question.
Laissez-faire
Socialism
, Communism
Capitalism - Answers Socialism
Communism
Private individuals and firms, not the government, own most of the property resources such as land and
capital in a free
Correct Unavailable system. - Answers market
Which of the following describe the concept of laissez-faire?
Multiple select question.
A market system in which only mutually beneficial economic transactions are completed
A market system in which the role of government is limited to protecting private property
A market system in which the role of government is unlimited
A market system in which the role of government is to correct market failures - Answers A market
system in which only mutually beneficial economic transactions are completed
A market system in which the role of government is limited to protecting private property
Which of the following ensure that private individuals and businesses are able to utilize property as they
wish?
Multiple select question.
Public domain
Which of the following is the reason why every society needs to develop an economic system?
Multiple choice question.
Every society has unlimited resources but limited wants.
Every society has limited resources and wants.
Every society faces the economizing problem.
Every society is destined to flourish and grow. - Answers Every society faces the economizing problem.
Which of the following describe the concept of laissez-faire?
Multiple select question.
A market system in which the role of government is unlimited
A market system in which the role of government is limited to protecting private property
A market system in which only mutually beneficial economic transactions are completed
A market system in which the role of government is to correct market failures - Answers A market
system in which the role of government is limited to protecting private property
A market system in which only mutually beneficial economic transactions are completed
Communism exhibits all the characteristics of a ______ system.
Multiple choice question.
,command
mixed
market
laissez-faire - Answers command
The term "laissez-faire" refers to
Multiple choice question.
mixed market or mixed capitalism.
limiting the government's interference in the economy.
the government as the dominant force in the economy.
allowing the government to significantly interfere in the economy. - Answers limiting the government's
interference in the economy.
What is the command system also known as? (Check all that apply.)
Multiple select question.
Laissez-faire
Socialism
, Communism
Capitalism - Answers Socialism
Communism
Private individuals and firms, not the government, own most of the property resources such as land and
capital in a free
Correct Unavailable system. - Answers market
Which of the following describe the concept of laissez-faire?
Multiple select question.
A market system in which only mutually beneficial economic transactions are completed
A market system in which the role of government is limited to protecting private property
A market system in which the role of government is unlimited
A market system in which the role of government is to correct market failures - Answers A market
system in which only mutually beneficial economic transactions are completed
A market system in which the role of government is limited to protecting private property
Which of the following ensure that private individuals and businesses are able to utilize property as they
wish?
Multiple select question.
Public domain
