Question

7 multiple choice 1 point what is the primary role of an entrepreneur in the production process? providing natural resources making routine decisions regulating prices and production levels assuming the risks and organizing resources clear my selection 8 multiple choice 1 point which of the following best describes a command economy? a political system where the government dictates production levels and prices a system where goods production and distribution are driven by traditions an economic system that combines aspects of capitalism and socialism an economic system guided by individual citizens and businesses clear my selection

Explanation:

Question 7

• "Providing natural resources" is the role of natural resources (land) in production, not entrepreneurs.
• Entrepreneurs don't make routine decisions; they make innovative and strategic ones.
• Regulating prices and production levels is typically a government or regulatory body's role, not entrepreneurs.
• Entrepreneurs assume risks of business ventures and organize resources (land, labor, capital) for production.

• A command economy is an economic system where the government (central authority) makes decisions about production levels, prices, and resource allocation.
• "A system where goods production and distribution are driven by traditions" describes a traditional economy.
• "An economic system that combines aspects of capitalism and socialism" describes a mixed economy.
• "An economic system guided by individual citizens and businesses" describes a market economy.

Answer:

D. Assuming the risks and organizing resources

Question 8