Practice EOCT Questions

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Presentation transcript:

Practice EOCT Questions Market Systems

Which of the following is NOT one of the three basic economic questions that must be answered in an economy? A      What to produce B       When to produce C      How to produce D      For Whom to produce

2. Competition and free enterprise are most common in which type of economic system? A      traditional B       market C      communist D      planned

3. Which type of economic system is MOST likely to experience high amounts of government regulation and low amounts or private ownership? A      market B       command C      traditional D      international

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