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It is easier to start your own business in a:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
Pure socialism is characterized by:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
Which of the following is a characteristic of capitalism?
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
The value of the next best alternative that has to be given up for the action that is chosen is the:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
One advantage of a traditional economy is:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
Using resources wisely so that people are better off economically is referred to as:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
The goal of economic stability is to reduce extreme ups and down in the:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
All economic systems:
Free enterprise system
Economic efficiency
You know what is expected of you
Opportunity Cost
Marketplace efficiency
Must answer the same three basic questions
Standard of Living
Centralized economic planning and state ownership of the factors of production
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