28. which of the following is a disadvantage of a market economy? a. it sustains a high degree of…

28. which of the following is a disadvantage of a market economy? a. it sustains a high degree of uncertainty. b. it does not allocate resources as efficiently as other economies. c. it restricts creativity and new ideas for doing things. d. it restricts personal freedom. 29. markets in the free - enterprise system are seldom regulated by a. businesses. b. entrepreneurs. c. the government. d. consumers. 30. with voluntary exchange, a buyer and seller agree to do business together a. only for the benefit of the buyer b. for the benefit of neither c. for the mutual benefit of both d. only for the benefit of the seller short answer 31. overall, do you think the government should play a larger or smaller role in our economy? explain why or why not. 32. why do you think “private property rights” is an important incentive in the american economy? 33. there are 5 advantages of free - enterprise capitalism. in your opinion, what do you think is the biggest advantage? explain your reasoning. diaguita indians have lived in this region for generations. we grow beans, corn and potatoes on the mountain slopes. to irrigate these crops, we still use the channels built centuries ago by our ancestors. we also breed llamas. in our community, the more llamas you own, the richer you are. 34. which type of economic system is this passage describing?

28. which of the following is a disadvantage of a market economy? a. it sustains a high degree of uncertainty. b. it does not allocate resources as efficiently as other economies. c. it restricts creativity and new ideas for doing things. d. it restricts personal freedom. 29. markets in the free - enterprise system are seldom regulated by a. businesses. b. entrepreneurs. c. the government. d. consumers. 30. with voluntary exchange, a buyer and seller agree to do business together a. only for the benefit of the buyer b. for the benefit of neither c. for the mutual benefit of both d. only for the benefit of the seller short answer 31. overall, do you think the government should play a larger or smaller role in our economy? explain why or why not. 32. why do you think “private property rights” is an important incentive in the american economy? 33. there are 5 advantages of free - enterprise capitalism. in your opinion, what do you think is the biggest advantage? explain your reasoning. diaguita indians have lived in this region for generations. we grow beans, corn and potatoes on the mountain slopes. to irrigate these crops, we still use the channels built centuries ago by our ancestors. we also breed llamas. in our community, the more llamas you own, the richer you are. 34. which type of economic system is this passage describing?

Answer

Brief Explanations:

  • Question 28: In a market economy, supply - demand fluctuations create uncertainty. Option a is correct as it is a well - known drawback. Other options are incorrect as market economies are generally efficient in resource allocation, encourage creativity, and offer personal freedom in economic choices.
  • Question 29: In a free - enterprise system, markets are mainly self - regulated by market forces, and government regulation is minimal compared to other entities like businesses, entrepreneurs, or consumers. So, the answer is c.
  • Question 30: Voluntary exchange in a market economy occurs when both the buyer and seller expect to gain, so it is for mutual benefit. The answer is c.
  • Question 34: The passage describes a traditional economic system where practices are based on long - standing traditions, like using ancient irrigation channels and having a community - based measure of wealth (llamas).

Answer:

  1. a. It sustains a high degree of uncertainty.
  2. c. the government
  3. c. for the mutual benefit of both
  4. Traditional economic system