COMPARATIVE ECONOMIC SYSTEMS QUESTIONS AND
GRADED ANSWERS, 100% GUARANTEE
A frozen foods company changes an ingredient to meet a new government standard. This is an
example of - a) following a federal regulation.
Which is an example of regulation in the automobile industry? - a) the creation of fuel-
efficiency standards for cars
In 1776, an economics book titled_______ was published to promote the concept of free
enterprise. - The Wealth of Nations
Why does the US government create regulatory agencies? Check all that apply. - 1,4,5
What is one downside to competition in a free-enterprise system? - a) Consumers must be
knowledgeable.
Innovation allows producers to - a) create goods that draw consumer attention.
What kind of economy uses a free-enterprise system? - c) a market economy
Which situation is the best example of competition in an economic system? - b) A small
CD store slashed its prices to attract customers from a larger store that sells CDs and DVDs.
What are aspects of a free-enterprise system? Check all that apply. - 3,4,5
A restaurant that creates a new type of sandwich is using
__________ as a method of competition. - innovation
GRADED ANSWERS, 100% GUARANTEE
A frozen foods company changes an ingredient to meet a new government standard. This is an
example of - a) following a federal regulation.
Which is an example of regulation in the automobile industry? - a) the creation of fuel-
efficiency standards for cars
In 1776, an economics book titled_______ was published to promote the concept of free
enterprise. - The Wealth of Nations
Why does the US government create regulatory agencies? Check all that apply. - 1,4,5
What is one downside to competition in a free-enterprise system? - a) Consumers must be
knowledgeable.
Innovation allows producers to - a) create goods that draw consumer attention.
What kind of economy uses a free-enterprise system? - c) a market economy
Which situation is the best example of competition in an economic system? - b) A small
CD store slashed its prices to attract customers from a larger store that sells CDs and DVDs.
What are aspects of a free-enterprise system? Check all that apply. - 3,4,5
A restaurant that creates a new type of sandwich is using
__________ as a method of competition. - innovation
