The value of the next best alternative that has to be given up for the action that is chosen is the:
A production possibilities curve helps determine:
It is easier to start your own business in a:
A major characteristic of a pure market economy is:
Pure socialism is characterized by:
Another term for a market economy is a:
A free-enterprise system is one in which:
A disadvantage of a pure market economy is:
Using resources wisely so that people are better off economically is referred to as:
As an economic term, land refers to:
The amount of military goods given up in a year is the opportunity cost for producing:
All economic systems:
Almost all economic systems today are:
In a command economy, the factors of production are decided by:
One advantage of a traditional economy is:
Which of the following describes a free-enterprise system?
Who owns the factors of production and makes economic decisions in a market economy?
The goal of economic stability is to reduce extreme ups and down in the:
Which of the following is a characteristic of capitalism?
Which of the following is a characteristic of pure socialism?
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