A fundamental difference between the command system and laissez-faire capitalism is that, in command systems,
A) the division of output is decided by central planning rather than by individuals operating freely through markets.
B) all economic decisions are made by the government, whereas there is no government in laissez-faire capitalism.
C) scarcity does not exist, whereas it does in laissez-faire capitalism.
D) money is not used, whereas it is in laissez-faire capitalism.
Correct Answer:
Verified
Q2: The main mechanism that regulates the market
Q3: Property rights are important because they
A) ensure
Q4: The division of labor means that
A) labor
Q5: Examples of command economies are
A) the United
Q6: Competition means that
A) sellers can manipulate market
Q7: The term "laissez-faire" suggests that
A) land and
Q8: An economic system
A) requires a grouping of
Q9: Command systems are also known as
A) market
Q10: Which of the following is a fundamental
Q11: Of the following countries, which one best
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