PRINCIPLES OF BUSINESS,
MARKETING, AND FINANCE SEM 1 -
1.1.5 STUDY: ECONOMIC SYSTEMS
PLUS 1.1.6 QUIZ APEX WITH THE
CORRECT SOLUTIONS
In r25 rwords ror rfewer, rdescribe rone rthing rthe rFed rcan rdo rto rhelp rbusinesses. r-
rCORRECT rANSWER✅✅The rFed rcan rlower rinterest rrates rso rthat rbusinesses rcan
rborrow rmoney rto rbuy rnew rmachinery.
In r25 rwords ror rfewer, rexplain rhow ryour rlife rin rthe rUnited rStates ris rdifferent rfrom rlife
rin ra rtraditional reconomic rsociety. r- rCORRECT rANSWER✅✅My rindividuality ris
rvalued rin rthe rUnited rStates. rI ralso rhave raccess rto rhealth rcare rand reducational
ropportunities.
Charles ris ran rentrepreneur rwho rhas rcreated ra rnew rmobile rphone rapplication. rHe's
rhoping rto rmake ra rlot rof rmoney rselling rthis rapp. rCharles ris rdriven rby r______ r-
rCORRECT rANSWER✅✅profit rmotive
Stephanie rmanages ra rsporting rgoods rstore. rLast rmonth rshe rnoticed rthat rsales rwere
rdown. rShe rbelieves rthis ris rbecause ra rnew rsporting rgoods rstore ropened racross
rtown. rBecause rof r______, rshe rdecides rto rlower rprices ron rsome ritems. r- rCORRECT
rANSWER✅✅competition
Which rof rthe rfollowing rare rcharacteristics rof rcommand reconomies? r- rCORRECT
rANSWER✅✅Prices rare rset rby rthe rstate
Government rcontrols rthe rmeans rof rproduction
Low rincentive rto rwork rhard
Communist rCommand rEconomy r- rCORRECT rANSWER✅✅Central rauthority
rmanages rthe rlong-term rdecisions rof rthe rfew rsmall rbusinesses
Government rdetermines rwhere remployees rwork
Socialist rCommand rEconomy r- rCORRECT rANSWER✅✅Some rprivate rownership rof
rsmall rbusinesses
Employee rcan rwork rwhere rhe ror rshe rwants rif rthe rposition ris ropen
In ra rmixed reconomy, rthe rgovernment rlikely r______. r- rCORRECT
rANSWER✅✅ensures rfunding rgoes rto rschools
MARKETING, AND FINANCE SEM 1 -
1.1.5 STUDY: ECONOMIC SYSTEMS
PLUS 1.1.6 QUIZ APEX WITH THE
CORRECT SOLUTIONS
In r25 rwords ror rfewer, rdescribe rone rthing rthe rFed rcan rdo rto rhelp rbusinesses. r-
rCORRECT rANSWER✅✅The rFed rcan rlower rinterest rrates rso rthat rbusinesses rcan
rborrow rmoney rto rbuy rnew rmachinery.
In r25 rwords ror rfewer, rexplain rhow ryour rlife rin rthe rUnited rStates ris rdifferent rfrom rlife
rin ra rtraditional reconomic rsociety. r- rCORRECT rANSWER✅✅My rindividuality ris
rvalued rin rthe rUnited rStates. rI ralso rhave raccess rto rhealth rcare rand reducational
ropportunities.
Charles ris ran rentrepreneur rwho rhas rcreated ra rnew rmobile rphone rapplication. rHe's
rhoping rto rmake ra rlot rof rmoney rselling rthis rapp. rCharles ris rdriven rby r______ r-
rCORRECT rANSWER✅✅profit rmotive
Stephanie rmanages ra rsporting rgoods rstore. rLast rmonth rshe rnoticed rthat rsales rwere
rdown. rShe rbelieves rthis ris rbecause ra rnew rsporting rgoods rstore ropened racross
rtown. rBecause rof r______, rshe rdecides rto rlower rprices ron rsome ritems. r- rCORRECT
rANSWER✅✅competition
Which rof rthe rfollowing rare rcharacteristics rof rcommand reconomies? r- rCORRECT
rANSWER✅✅Prices rare rset rby rthe rstate
Government rcontrols rthe rmeans rof rproduction
Low rincentive rto rwork rhard
Communist rCommand rEconomy r- rCORRECT rANSWER✅✅Central rauthority
rmanages rthe rlong-term rdecisions rof rthe rfew rsmall rbusinesses
Government rdetermines rwhere remployees rwork
Socialist rCommand rEconomy r- rCORRECT rANSWER✅✅Some rprivate rownership rof
rsmall rbusinesses
Employee rcan rwork rwhere rhe ror rshe rwants rif rthe rposition ris ropen
In ra rmixed reconomy, rthe rgovernment rlikely r______. r- rCORRECT
rANSWER✅✅ensures rfunding rgoes rto rschools
