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select all the items that describe a free market economy.
 
1. limited selection of goods and services
2. freedom for consumers and producers
3. competition between businesses
4. distribution by price
5. motivated by self-interest
 

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Darryn D'Souza
Darryn D'SouzaLv10
4 Nov 2020

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Select all the items that describe a command economy:
A. limited freedom for consumers.
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C. usually not much economic growth.
D. encourages competition between businesses.
Which of these is a characteristic of a pure command economy?
a. The goods and services that a country produces are planned by consumers.
b. All businesses are owned by the state.
c. Prices are determined by market forces.
d. There is free and fair competition between private producers.

An important difference between the GDP deflator and the consumer price index is that:

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  4. the GDP deflator reflects the prices of goods and services bought by producers, whereas the consumer price index reflects the prices of goods and services bought by consumers.

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