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In which economic system are the production and distribution of goods owned by private individuals or corporations?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
In a traditional economic system people usually exchange goods or services rather than use money. Which of the following is an example of this?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
What is the purpose of free trade partnerships like the North Atlantic Free Trade Agreement (NAFTA) between the USA, Canada, and Mexico?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
When a country has a market economy, which of these statements correctly defines this system?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
Which term best describes an economic system in which the government - not the people- own land, factories, and businesses?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
A market economy is very different from a command economy. Which of the following is found in a market economy?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
Which of the following best identifies the economy of Cuba?
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
A country's parliament votes to increase tariffs upon goods from another country. This is an example of
bartering with a seller
a representative democracy restricting trade.
market
to increase trade by doing away with tariffs.
Companies produce goods of their choice and consumers decide whether to buy the goods.
communism
command
competition
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