The Economic System That Answers the What , How and for Whom

question 40

Multiple Choice

The economic system that answers the What , How and For Whom questions using prices determined by the interaction of supply and demand is a:

• A) market economy.
• B) command economy
• C) soviet economy.
• D) traditional economy.

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Definitions:

Ingroups

social groups with which an individual identifies and feels a sense of belonging, often in contrast to outgroups, which are those perceived as different or outside.

Outgroups

Groups of people that one does not identify with or belong to, often perceived as different or opposed to one's own group (ingroup).

Discrimination

Unfair treatment of a person or group on the basis of prejudice.

Arabs

A linguistic and cultural ethnic group originating from the Arabian Peninsula and neighboring territories, speaking Arabic as their native language.