Exam (elaborations)
PRIMAVERA ECONOMICS UNIT 2 EXAM 2024 QUESTIONS WITH CORRECT ANSWERS
- Course
- Institution
PRIMAVERA ECONOMICS UNIT 2 EXAM 2024 QUESTIONS WITH CORRECT ANSWERS
[Show more]
Content preview
PRIMAVERA ECONOMICS UNIT 2 EXAM2024 QUESTIONS WITH CORRECT
ANSWERS
What 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? - Answer-It 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? - Answer-The 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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Rusenna. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now