1031. The Free market invovles____.
A. The free provision of products
B. Government product subsidies
C. Market forces of supply and demand*
D. All trade Via Barter
1032. A mixed economy____.
A. Has supply but not demand
B. Has demand but not supply
C. Has supply and demand
D. Has market forces and government intervention *
1033. In a command(planned) economy____.
A. The charge mechanism acts as an incentive
B. Resources are allocated by market forces
C. Individual companies make their own decisions about what and how to produce
D. The public sector is large *
1034. The Public sector includes________.
A. Investors owning includes
B. Government ownership of assets *
C. Market forces of supply and demand
D. All trade via Barter
1035. Which of the following is a normative statement in economics?
A. More government spending reduces poverty
B. Higher taxes make people less willing to work
C. The UK economy is growing rapidly compared to other members of the European Union
D. Governments should focus on reducing unemployment *
1036. If an economy is productively efficient
A. Everyone is wealthy
B. Resources are unemployed
C. More of one product can only be produced if less of another product is produced *
D. The distribution of income is equal
1037. Economic growth can be shown by_______.
A. Inward Shift of the Production Possibility Frontier
B. A decline at the forefront of production potential
C. outward Shifting the production possibilities frontier*
D. Rise at the limits of production potential
1038. As resources are shifted from one industry to another this can be shown by_______.
A. Inward Shift of the Production Possibility Frontier
B. Descent in the production potential frontier*
C. Outward shift of the production possibilities frontier
D. Rise at the limits of production potential
1039. In a free market the combination of products produced will be determined by ________.
A. Market forces of supply and demand*
B. The Government
C. The Law
D. The Public sector
1040. An economy may operate outside the production possibility frontier if _______.
A. Underutilization of resources
B. It is being productively efficient
C. It is a mixed economy
D. It is trading with other economics *