Ecn201 final exam uri Study guides, Class notes & Summaries
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![ECN201 FINAL EXAM URI QUESTIONS & ANSWERS 2023/2024](/docpics/3319170/64ea6b9a6a47d_3319170_121_171.jpeg)
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ECN201 FINAL EXAM URI QUESTIONS & ANSWERS 2023/2024
- Exam (elaborations) • 12 pages • 2023
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ECN201 FINAL EXAM URI QUESTIONS & ANSWERS 2023/2024 
 
 
Traditional - ANSWER-By tradition, customs 
 
Command - ANSWER-Government Economy 
 
Market - ANSWER-People pursuing individual decisions 
 
Mixed - ANSWER-Combination of command and market economies 
 
Adam Smith - ANSWER-Supported the market system/capitalism 
 
Prices - ANSWER-_____ are to the economy what red cells are to the human body 
 
Property Rights - ANSWER-The ability of owners to use their property, or to sell it 
 
Conservati...
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