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Primavera Economics Unit 2 Exam 2024 Questions with Solutions
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Primavera Economics Unit 2 Exam 2024
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Primavera Economics Unit 2 Exam 2024What is the main advantage of a command economy? - answer Everyone’s basic needs
are met.
Which accurately describes a principle argued by Adam Smith to drive a free market
economy? - answer Adam Smith argued for a laissez-faire economy that is free of
government intervention.
What are roles of the government in a mixed market economy? (Select all that apply.) -
answer It helps to prevent monopolies, In enforces laws against false advertising, It
helps to ensure that prices are fair.
Which action by the government would promote competition among firms? - answer
NOT - Repealing antitrust laws enacted by the Senate.
Read the sentence. The three basic economic questions everyone must answer are
[blank]. Which most accurately completes the sentence? - answer What to produce,
how to produce, and for whom to produce.
Which is a disadvantage of a free market economy? - answerIt does not provide public
goods.
Which accurately describes advantages of a sole protrietorship? - answer.5 - The owner
of a sole proprietorship has the freedom to make all business decisions.
What is the purpose of the Tennessee Valley Authority? (Select all that apply.) -
answer.67 - It generates and provides inexpensive hydroelectric power to the
Tennessee Valley, It develops agriculture and forest land in the Tennessee Valley.
Which accurately describes events of the Industrial Revolution and subsequent
emergence of capitalism? - answerThe Industrial Revolution created economic
opportunities for the middle class (bourgeoisie) and the desire for profits without
government interference.
How do government benefit payments, such as social security and veteran benefits,
help the economy? (Select all that apply.) - answer.67 - They are a source of revenue
that people use to consume goods and services, They offer a safety net for people who
may be struggling for some reason.
What do traditional and command economies have in common? - answerA focus on the
community rather than the individual.
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