Ee fully answered grade A questions and answers
There are three key economic questions that each economic system must address. -
(correct answer)True
Hybrid vehicles are an example of economic ___________. - (correct answer)innovation
_________ encourages countries to interact. - (correct answer)Importing goods
Economic goals are the conditions least desired by a society. - (correct answer)False
Growth is the ability of a country's citizens to make their own economic choices. -
(correct answer)False
Security is the ability of a country's citizens to make their own economic choices. -
(correct answer)False
A new factory being built is an example of the economic goal of freedom. - (correct
answer)False
A homebuyer's ability to purchase a home in any community is an example of economic
freedom. - (correct answer)True
Which of the following encourages countries to interact? - (correct answer)importing
goods
Some resources are only available in certain geographic locations of the world. -
(correct answer)True
The standard of living is low in traditional economies. - (correct answer)True
, Growth is a disadvantage of a free market. - (correct answer)False
Profit is a major incentive of competition. - (correct answer)True
Trade agreements influence the inner workings of a free-market. - (correct answer)True
Consumers take money to a market and use it to purchase what they need and want. -
(correct answer)True
In a free market economy a great number of products are provided to meet the
demands of consumers. - (correct answer)True
Which of the following countries does NOT have a command economy? - (correct
answer)United States
Communism promotes the idea that equality in society comes from having political and
economic fairness among citizens. - (correct answer)False
Equity is an important economic goal in command economies. - (correct answer)True
Much effort is made towards improving the economy in centrally-planned economies. -
(correct answer)False
Most economists that promote free market economies are strongly against government
involvement in the economy. - (correct answer)True
The term laissez faire is a ________ phrase meaning "hands off." - (correct
answer)French
There are three key economic questions that each economic system must address. -
(correct answer)True
Hybrid vehicles are an example of economic ___________. - (correct answer)innovation
_________ encourages countries to interact. - (correct answer)Importing goods
Economic goals are the conditions least desired by a society. - (correct answer)False
Growth is the ability of a country's citizens to make their own economic choices. -
(correct answer)False
Security is the ability of a country's citizens to make their own economic choices. -
(correct answer)False
A new factory being built is an example of the economic goal of freedom. - (correct
answer)False
A homebuyer's ability to purchase a home in any community is an example of economic
freedom. - (correct answer)True
Which of the following encourages countries to interact? - (correct answer)importing
goods
Some resources are only available in certain geographic locations of the world. -
(correct answer)True
The standard of living is low in traditional economies. - (correct answer)True
, Growth is a disadvantage of a free market. - (correct answer)False
Profit is a major incentive of competition. - (correct answer)True
Trade agreements influence the inner workings of a free-market. - (correct answer)True
Consumers take money to a market and use it to purchase what they need and want. -
(correct answer)True
In a free market economy a great number of products are provided to meet the
demands of consumers. - (correct answer)True
Which of the following countries does NOT have a command economy? - (correct
answer)United States
Communism promotes the idea that equality in society comes from having political and
economic fairness among citizens. - (correct answer)False
Equity is an important economic goal in command economies. - (correct answer)True
Much effort is made towards improving the economy in centrally-planned economies. -
(correct answer)False
Most economists that promote free market economies are strongly against government
involvement in the economy. - (correct answer)True
The term laissez faire is a ________ phrase meaning "hands off." - (correct
answer)French
