When supply decreases and demand increases, what happens to the price of a good?
(1 point)
Responses
it increases
it increases
it stays the same
it stays the same
it decreases
it decreases
it is unaffected
it is unaffected
When supply decreases and demand increases, the price of a good usually increases.
Use the drop-down menu to complete the sentence.(1 point)
Increased competition between producers of a good may lead to
lower prices.
Which type of economic system has the highest level of government control?
(1 point)
Responses
traditional economy
traditional economy
market economy
market economy
command economy
command economy
mixed economy
The command economy has the highest level of government control.
Which of the following is a feature of a good budget?
(1 point)
Responses
money reserved for saving
money reserved for saving
income that is less than its expenses
income that is less than its expenses
high use of credit
high use of credit
economic incentives
economic incentives