Question

Which situation would most likely take place in a market economy?
A. A worker is assigned to work in a government-owned refinery.
B. Two car companies compete to make the cheapest electric car.
C. Farmers grow just enough corn to eat throughout the year.
D. The government decides that factories should make fewer planes.

Answer 1

Answer: C

Explanation: Farmers usually grow extra goods that they can sell but in a market economy they only need to grow enough food for themselves

Answer 2

Answer:

For the question: Which situation most likely takes place in a COMMAND economy would be A. A worker is assigned to work in a government-owned refinery.

For the question: Which situation would most likely take place in a MARKET economy would be B. Two car companies compete to make the cheapest electric car.

For the question: Which situation would most likely take place in a TRADITIONAL economy would be C. Farmers grow just enough corn to eat throughout the year.

Explanation:

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