In planned economic systems, government agencies control both supply and price of the products.   True   or  False?

The list below describes characteristics of a type of economic system. Government regulates the factors of production for goods and services. Individual and business control some factors of production. Supply and demand determine more economic production. Private property rights with some government intervention.   Which economic system is most likely described by the list? Mixed-market economy Free-market economy Command economy Traditional economy

You have taken over the Canadian government. As the Dictator, you took on yourself to end the destruction of the environment by your citizens. As a dictator, you are no longer limited by the challenges of democracy and do not require the agreement of the public but you are limited by the limitations of the existing economic system. Explain what policies you would implement. How you expect these policies to solve the problem. By using the relevant Microeconomic models we learned in class throughout the semester, demonstrate how your policies affect the relevant markets. Show the direct impact and the indirect impact (positive and/or negative) on other markets affected by the changes you propose. For each policy: describe your policy, what are you hoping to achieve, what are your assumptions you are making and explain the economic mechanism that is taking place. Demonstrate graphically how it affect the current status in the market. WITH GRAPH PICTURES

Which of the following statements is inaccurate?   Multiple Choice   There is substantial agreement about how and when markets fail.   There is substantial agreement about whether government improves market outcomes.   Voters are quick to blame government meddling for many economic woes.   Ideally, the market mechanism will lead an economy to the optimal mix of output.

A well educated society can be considered which of the following, as it pertains to economics? Negative Externality Positive Externality Economic Relief Social Welfare

What are the central features of capitalism as an economic system?

Which of the following choices is an example of how technology has impacted the supply of goods?         supply curve         subsidies         regulations         assembly lines