4) Which length of time makes up a quarter, or the period of time that governments use to measure their economies? b. Tenements were apartment buildings where immigrants clustered; ghettos occurred when residents of tenements were prevented by law or social pressure from renting somewhere else. which of the following questions would be explored in the study of macroeconomics? __________ can be described as a more liberal version of a command economy. The majority of societies have a communist economic system. Economic growth is not a top priority. 10) The _______, also known as the Necessary and Proper Clause, is a portion of the U.S. Constitution that allows the federal government to pass laws to assist in carrying out its duties. - It often results in a lack of available goods. What do you notice about where most of the internment camps are located? Which of the following states an advantage of a traditional economy? Marketing makes use of the "marketing mix," also known as the four Ps: product, price, place, and promotion. Q1) Which government agency deals most directly with consumers and their rights and protection? ECO 102 Macroeconomics Unit 2 Milestone 2 Sophia Course Click below link for Answer 1 Which graph accurately represents Silvia's consumer surplus if she is willing to pay up to $20,000 for a new car, but she finds one on sale for $15,000? 6) Which of these scenarios best represents a traditional economic system? a. Daniel has $20. c. Immigrants came to the United States to try to become like Americans. Which is true of the government in a centrally planned economy? Producing only what they need to survive, traditional economies rarely produce a surplus of goods, thus further eliminating the need to trade or create money. Which of the following statements best represents agreements between Federalists and Anti-Federalists? behavior that is dependent upon associated benefits and costs and a decision made based on maximum benefit, the four major rights of a consumer include the rights to choose, to be safe, to be informed, and to be heard, debt that is guaranteed by the thing that is purchased, debt that is not guaranteed by anything and typically warrants a high interest rate, - right to choose Which statement best describes the difference between a market economy and a traditional economy? the individual buyers, sellers, or traders of goods in an economic system, the collective consumers within a country, an economic system under which the market determines the major questions of economic production and development (also known as capitalism), the place where buyers and sellers go to conduct business (can be a physical or virtual place), an economic system in which the government controls vital industries while allowing capitalist or market principles to exist in the rest of the economy, such as private ownership of business and property, the main goal of those in business in a market economy; the acquisition of wealth, the idea that the buyer and seller both seek to satisfy the other in order to guarantee continued access to the other and that this practice will ultimately benefit society as a whole, 1) _______ the physical or virtual place where buyers and sellers go to conduct business the success of nations, communities and individuals are linked, more than ever before, to how they adapt to change, learn and share knowledge. Q1) Which scenario best explains scarcity? b. - an 8% tariff on imported goods. Factory labor was growing more routine and impersonal, and social interactions at the workplace were increasingly inhibited. A factory must switch production from cars to boats due to government orders. 7) Which of these purchases would require you to have good credit? ______ Under the Articles, the judicial branch was a powerful force in the federal government. Found inside Page 321Customs and traditions determine D. Price Discrimination what and how to produce. Q3) ______ the term used for the overvaluing of property or land A teenage girl deciding how to spend the extra money she earned working overtime. Taking on the state debts united the states because they then had an interest in seeing the young nation succeed in paying off the bonds. answer choices Profit motivates individuals to set up private businesses The interplay of supply and demand regulates prices Tradition and customs greatly influence economic decisions Government directs and controls the means of production Question 10 30 seconds Q. A man has $20 but wants to take his girlfriend to a fancy steak restaurant, where he needs $70. O a. b . The five characteristics of a traditional economy are: Centering around a family or tribe Existing in a hunter-gatherer and nomadic society Producing only what it needs Relying on a barter system dateFormat: "yy-mm-dd", Everyone knows exactly what their function is. Change is slow. This persuasive book revolutionized our understanding of capital and points the way to a major transformation of the world economy. . _______ Bartering is a method of acquiring goods through trading that is typical of traditional economies. Found insideAlthough the dangers ahead are profound, he argues that there is cause for hope. e. chaired the National Woman's Suffrage Party and fought for a woman's right to vote. "/> 3) Choose the TWO German philosophers who wrote Das Kapital and the Communist Manifesto. true Describe the differences in economic freedom in a traditional economy, a market economy, and a command economy. During the 1880s and 1890s, which new obligation was added to the traditional middle-class woman's role as director of the household? Incentive to make them well [ 2 ] Shareholder advocates - as well as business journalists and legal banking! \end{array} Skilled workers and immigrants familiar with Anglo-American customs had relatively few problems adjusting, but for others, adjusting was difficult. c. Tenements were overcrowded apartment buildings with few services; ghettos were neighborhoods where blacks lived. /*