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Which question is MOST LIKELY a fundamental economic question?
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
In Nigeria, people can open their own businesses, choose their careers and job paths, and can purchase a wide array of consumer goods. However, the national government institutes tariffs on imported goods, has a significant share in the oil industry,
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
What happens to the price of oil when OPEC countries decide to limit production?
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
Decentralized decision making.· Adjusts to changes in the market place.· Producers and consumers have control of the economy. All of these are characteristics of a ___ economy.
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
Which of these is a correct description of one of the ways in which a command economy differs from a market economy?
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
Which example might work to limit trade between countries?
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
Producers and consumers own the factors of production Custom and habit answer the question of who, what and how to produce Outside trade and commerce is discouraged Roles within the community are defined by custom and gender What type of economic sys
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
How might specialization encourage trade?
oil prices raise
In a command economy, individuals have less economic freedom.
One nation will focus resources on its specialty, forcing it to buy other products from other nations.
Mixed
market
Traditional
a quota on imports and exports
Who will get the goods and services produced?
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