UNIT 01 / BASIC ECONOMIC IDEAS AND RESOURCE ALLOCATION

Resource allocation in different economic systems1.4 test

100 questions with explanations after each answer.

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QUESTION 01 / 100Easy

Which statement best describes a market economy?

Select one answerAAll goods and services are supplied directly by the public sector.BMost resource-allocation decisions are made by a central planning authority.CMost resource-allocation decisions are made through market forces.DAll productive resources are jointly owned by consumers and the government.

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1 of 100

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Question 1