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What is the most common economic system today?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
The rivalry between the different producers and sellers of a good or service is called?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
Which of the following is NOT a type of resource?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
What is the inability to satisfy all needs and wants at the same time because all resources are limited?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
The interaction of supply and demand determine..?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
Chad was a herder, just like his father and grandfather. He wanted to go to college, but had to settle for the old ways. What economic system is Chad a part of?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
What is given up when a choice is made?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
Consumers determine what goods and services will be produced based on the products they purchase. This is known as?
Canine
Traditional Economy
Mixed Economy
Price
An opportunity cost
scarcity
Competition
Consumer Sovereignty
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