chapter 6

section 1:
1.What goods and services should be produced? How should these goods and services be produce? who will consume these goods and services?
2.becsause it is the simplest economic system and it means that if people hunt a certain place for a long time and they will be able to do that for like forever. is a program to protect people who face economic hard times and that is why it is important. it can be able to feed every body that is in the population so that it don’t leave nobody out.
section 2:
5.self interest and incentives
6.workers learn their skills better. production becomes more efficient and increases.
7.because it is a centrally planned economy, the government owns all factors of production.
8.its like a contest between firms or individuals to sell a product or services that contains the market place.
section 3:
9.little to no economic freedom.
10.the government controls production and services.
11.they wanted to make the USSR a powerful industrial nation. production dropped a great deal. there were shortages of many food products.
section 4:
13.the degree of government involvement.
14.a nation moves from one economic system to another.
15.the rule of laissez faire is followed. the government rarely interferes in the free market.
16.because the investment decisions are made by individuals rather than by the government.
17.mixed economics fall along a continuum. this ranges from north Korea at one end and Hong Kong at the other end.
18.taxes and monetary flow, physical flow and monetary flow.

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