Economic Systems Differ from One Another Based on Who Owns

question 36

Multiple Choice

Economic systems differ from one another based on who owns the factors of production and

• A) how many resources are available in the economy and where they are located.
• B) how economic activities are coordinated and directed.
• C) what kinds of products are produced in the economy and how they are sold.
• D) how big the population is and the makeup of the population.

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Definitions:

Defendant

An entity, firm, or person facing legal action or charges in a legal forum.

Duty of Reasonable Care

An obligation to act with the level of care, attention, and prudence that a reasonable person would under the same circumstances to prevent harm to others.

Abnormally Dangerous Activity

An activity that carries a high risk of harm or damage that cannot be completely guarded against through the exercise of reasonable care and which is not commonly performed in the area.

Crop Dusting

The process of distributing pesticides, fertilizers, or seeds over agricultural crops using aircraft.