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Which of the following is NOT a characteristic of a command economy?
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
What does the interaction between supply and demand decide?
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
The United States government has required a recall on certain brands of cereal that have contaminated ingredients. The government can recall items to insure safety of -
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
Which of the following is NOT one of basic types of profit-seeking business structures?
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
Rivalry between producers of a good or service results in better quality goods and services at a lower price. This is called -
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
The government of North Korea provides food for its citizens. However, the food is often in short supply, has little variety, and of poor quality. What type of economy is it?
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
Which is an example of sole proprietorship?
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
What is supply?
Spencer owns a restaurant and is responsible for all of its debts.
Competition
The public sector
amount producers are willing to sell
Command
Entrepreneur
Price of goods and services
Profit Motive
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