A. are totally free to pursue their goals
B. are affected by prices and incomes
C. try to maximize their worth
D. try to maximize their labor
Related Mcqs:
- The participants in a market economy cannot pursue their goals freely because they are affected by_________________?
A. the ratio of gold to paper money
B. economic laws
C. prices and incomes
D. the religious institution - The participants in a market include_____________?
A. households
B. firms
C. governments
D. all of the above - If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?
A. The higher price in market A
B. The higher price in market B
C. The same Price in both markets
D. Cannot tell which price will be higher - The mechanism of the market system provides for________________?
A. the content and flow of goods and services to take place without any fixed plan
B. buyers and sellers not needing to know how the market works in order to act in it
C. the economy to function so that all participants derive some satisfaction
D. all of the above - The market system consists of planning by__________________?
A. inducement
B. direction
C. command
D. tradition - In contemporary market systems competition____________________?
A. is quite strong
B. is diluted by private and state monopolies
C. does not exist
D. has been replaced by planning - Some of the advantages of a market economy include ?
A. all participants get some satisfaction
B. scarce resources are put into goods that are in demand
C. economic output is distributed to those who can pay the price
D. all of the above - Some of the restrictions as work in a market include________________?
A. prices of goods and services
B. income for labor
C. prices of resources for firms
D. all of the above - How are decisions about production made in a market economy ?
A. By a command system
B. According to tradition
C. Through a price system
D. By executive fiat - Entities such as the U.N and the European Economic Community (Common Market) are classed as_____________?
A. IGOs
B. LDCs
C. ICUs
D. EEcs
