ch2 macro

Today, most of economies represents either a pure case of either market capitalism or command socialism.

• True

• False

The three economic questions are independent from each other

• True

• False

Resources are directed and production is coordinated by the market forces in the capitalist state

• True

• False

One of the pure capitalism’s flow is the absence of producing public goods

• True

• False

Using resources inefficiency is one of the command system’s flow

• True

• False

A socialist system is characterized by the public ownership of resources and the government is the primary owner of all resources

• True

• False

Some markets are unregulated and other are regulated at the mixed economy

• True

• False

In the free economic system, individuals have the power to make their decisions

• True

• False

In the command system, entrepreneurial activities have a priority in this market

• True

• False

Monopolization is one of the main disadvantage of the capitalism system

• True

• False