Which of the following is a feature of a good budget?
A.
money reserved for saving
B.
income that is less than its expenses
C.
high use of credit
D.
economic incentives
Which type of economic system has the highest level of government control?
A.
traditional economy
B.
market economy
C.
command economy
D.
mixed economy
Which of the following is a feature of a good budget?
Correct answer A.
money reserved for saving
B.
income that is less than its expenses
C.
high use of credit
D.
economic incentives
When supply decreases and demand increases, what happens to the price of a good?
Correct answer A.
it increases
B.
it stays the same
C.
it decreases
D.
it is unaffected
Use the drop-down menu to complete the sentence.
Increased competition between producers of a good may lead to (correct answer)-a decrease in profit.
Which type of economic system has the highest level of government control?
A.
traditional economy
B.
market economy
correct answer C.
command economy
D.
mixed economy
How does opportunity cost affect people's wants and needs?
A.
It changes the supply and demand of goods.
Correct answer B.
It requires them to make a choice.
C.
It requires them to be producers and consumers.
D.
Opportunity cost does not impact wants and needs.
I got a 100% trust me.
AbC, is correct i got a 100
AbC is correct trust her!!!!!!!
Someone will check your answers if you post them. =)
Which type of economic system has the highest level of government control?
really need you guys help
To determine the correct answer to the first question, let's analyze each option:
A. Money reserved for saving: This is indeed a feature of a good budget. Saving money helps in building an emergency fund, meeting financial goals, and preparing for the future. Saving is an essential part of financial management.
B. Income that is less than its expenses: This option describes a situation where expenses exceed income, which is not a characteristic of a good budget. A good budget aims to allocate income in a way that covers all expenses while still allowing for saving and, ideally, some discretionary spending.
C. High use of credit: High reliance on credit is generally not a feature of a good budget. While taking on credit can sometimes be necessary or beneficial, it is generally advised to use credit responsibly and avoid excessive borrowing.
D. Economic incentives: Although economic incentives can shape spending behavior and influence economic decision-making, they do not directly relate to the features of a good budget.
Based on the analysis above, the correct answer is A. Money reserved for saving.
Now, let's move on to the second question:
A. Traditional economy: In a traditional economy, economic decisions are influenced by customs, traditions, and cultural norms, rather than government regulations. In this system, there is minimal government control over the economy.
B. Market economy: In a market economy, economic decisions are primarily guided by the forces of supply and demand, with limited government intervention. The government's role is typically focused on maintaining fair competition and ensuring consumer protection rather than exerting significant control over the economy.
C. Command economy: In a command economy, also known as a planned economy, the government has extensive control over economic decisions. The government determines what goods and services are produced, how they are produced, and how they are distributed. Examples of command economies include countries like North Korea and Cuba.
D. Mixed economy: A mixed economy combines elements of both market and command economies. The government plays a significant role in regulating and guiding economic activities, but there is also room for private ownership and entrepreneurship. Many countries, including the United States, have mixed economies.
Based on the given options, the correct answer is C. Command economy, as it has the highest level of government control over economic activities.