The difference between a centralized economy and a market economy is that
A) the centralized economy does not have any markets for goods and services, whereas a market economy has fully functioning markets.
B) governments make production decisions in a centralized economy, and individuals make production decisions in a market economy.
C) governments have maximum decision-making power in a centralized economy but have zero decision-making power in a market economy.
D) individuals make production decisions in a centralized economy, and the government makes production decisions in a market economy.
Correct Answer:
Verified
Q1: Which of the following five scenarios illustrate
Q2: A market is a
A)a place where governments
Q3: A planned economy is an economy where
A)centralized
Q4: A market economy is an economy where
A)the
Q6: A seller at a farmer's market wants
Q7: You buy two loaves of bread at
Q8: Equilibrium is the
A)point at which there is
Q9: An equilibrium in a market occurs:
A)at the
Q10: An equilibrium price is a price where
Q11: An equilibrium price is:
A)the price that prevails
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