Question

3 true or false 1 point scarcity is an economic principle stating that because of limited resources, an economic system cannot possibly produce all the goods and services that people want. true false 4 matching 1 point please match the following definitions to the correct terms. ____ is a system that combines aspects of both capitalism and socialism. this system protects private property and allows some economic freedom but also allows for governments to interfere in economic activities. __ is a general rise in the price level of an economy over a period of time. __ is a decrease in the general price level of goods and services. this is dangerous to our economy. __ is an economic system where the government rather than the free market determines what goods should be produced, how much should be produced, and how much it should cost. __ is the decline of economic activity which means that the public has stopped buying products. during this period the rate of inflation slows down, drops, or becomes negative. ____ is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country’s individuals, citizens, and businesses. options: recession, mixed economic system, command economic system, deflation, inflation, market economic system 7 true or false 1 point the smart goal achievement stands for specific, measurable, achievable, realistic, and time bound. true false

Explanation:

Question 3 (True or False)

The principle described is "Scarcity", which states that due to limited resources, an economic system can't produce all goods and services people want. So the statement is about Scarcity (though the term "Scarcity" might have a typo as "Scarcity" not "Scarcity" misspelled, but the concept matches). So the statement is True.

The SMART Goals acronym is Specific, Measurable, Achievable (or Attainable), Relevant (or Realistic), and Time - bound. The statement has "Realistic" (which is a common variant for "Relevant" in some usages) and the other components match. So the statement is True.

Answer:

True

Question 6 (Matching)

Let's match each definition to the term:

1. Mixed Economic System: A system combining capitalism (private property, economic freedom) and socialism (government intervention). Matches "a system that combines aspects of both capitalism and socialism...".
2. Inflation: General rise in price level over time. Matches "a general rise in the price level of an economy over a period of time".
3. Deflation: Decrease in general price level (dangerous for economy). Matches "a decrease in the general price level of goods and services...".
4. Command Economic System: Government (not free market) decides production, quantity, price. Matches "an economic system where the government rather than the free market determines...".
5. Recession: Decline in economic activity (less buying, inflation slows/drops). Matches "the decline of economic activity which means that the public has stopped buying products...".
6. Market Economic System: Economic decisions guided by individual/business interactions (free market). Matches "an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country’s individuals, citizens, and businesses".

So the matches are:

• "a system that combines aspects of both capitalism and socialism..." → Mixed Economic System
• "a general rise in the price level of an economy over a period of time" → Inflation
• "a decrease in the general price level of goods and services..." → Deflation
• "an economic system where the government rather than the free market determines..." → Command Economic System
• "the decline of economic activity which means that the public has stopped buying products..." → Recession
• "an economic system in which economic decisions and the pricing of goods and services are guided by the interactions..." → Market Economic System

Question 7 (True or False)