7. Which situation is more likely to occur in a market economy than a command economy?
A. People line up for cheap but scarce products.
B. A student is guaranteed a job out of college.
C. An inventor designs and produces a new type of car.
D. A committee chooses which farms should receive new tractors.
I'm really not sure about this question, a command economy is run by the government and the market economy is not?
8. How does the use of plastic to produce bicycle helmets affect other plastic using industries?
A. It decreases the prices offered by other industries.
B. It increases the demand for products of other industries.
C. It increases the capital available to other industries.
**D**. It decreases the amount of resources available to other industries.
7. You are right about this: "a command economy is run by the government and the market economy is not"
So which one of those four choices is NOT something decided by a government?
8.
A. "the prices" of what?
B. "the demand" for what?
C. How do companies acquire capital?
D. Have you ever heard of anyone being short of plastic? If so, under what circumstances?
so for 7 its c? since something created by an individual inventor does not have the government involved?
can someone tell the actual answer im still confused
I think
This doesn't make any sense but thanks anyway lol
I don't think so
7. In a market economy, the answer C, "An inventor designs and produces a new type of car," is more likely to occur. In a market economy, the decisions regarding what to produce, how to produce, and for whom to produce are primarily determined by the interaction of buyers and sellers in the market. This allows individuals and businesses to take risks, innovate, and introduce new products or services according to consumer demand. The invention and production of a new type of car would be a prime example of entrepreneurial activity thriving in a market economy.
On the other hand, a command economy, as you correctly mentioned, is characterized by a central authority (usually the government) making most of the economic decisions. Therefore, options A, B, and D, which involve either scarcity, guaranteed jobs, or centralized decision-making, are more likely to occur in a command economy.
8. When plastic is used to produce bicycle helmets (a specific industry), it has an effect on other plastic using industries. The correct answer is D, "It decreases the amount of resources available to other industries."
Plastic is a limited resource, and when a significant amount of plastic is directed towards producing bicycle helmets, it reduces the available supply for other industries that also rely on plastic. This increased demand for plastic by the bicycle helmet industry may drive up the price of plastic, creating potential scarcity for other industries using plastic in their production processes. As a result, those industries may face challenges in terms of obtaining sufficient plastic resources for their own production, potentially leading to increased costs or decreased output.