The economic system refers to production, allocating resources, and focusing on the distribution of goods and services, which comprises different institutions and entities that take decisions and focus on economic structure. Which of the following statements about the. •adam smith wrote about this type of economic system.
1)An Incentive A)Is The Opposite Of A Tradeoff.
8 toronto 9 canada 10 scottish 11 irish 12 scottish 13 southwest scotland 14 ireland 15 the nw of england 16. They have the ability to shift resources away from one industry to another if needed. The right side shows economies dominated by the free market.
B)Could Be A Reward But Could Not Be A Penalty.
The below list is attributed to what type of economy: Cosatu 10th national congress political report. •command economies can provide economic security • command economies also have the ability to adjust rapidly to changing circumstances.
It Discourages New Ideas And New Ways Of Doing Things.
4 types of economic systems | quizlet 1/3 14 multiple choice questions 1. It provides workers with few incentives to work hard. Knows the main characteristics of various economic systems (e.g., market, command, mixed, and traditional) knows how various economic systems answer the basic questions of what, how, and for whom 6.
Knows The Roles Of Individuals, Businesses, And
Multiple choice answer the following questions by choosing the best answer. Answers • traditional • 1 • 8 • 11 • pure command • 2 • 4 • 6 • 10 • pure market • 5 • 7 • 9 Division of labor is a.