Question

1. how a society answers the three economic questions defines

a. its place in the global economy
b. its economic system
c. its income distribution
d. whether it is a pure or mixed economy

1. resources are owned and controlled by private individuals in what type of economic system?

a. a free enterprise or market economic system
b. a socialist economic system
c. a communistic economic system
d. all of the above

1. protection from layoffs, illnesses, injuries or disabilities fall under the goal of

a. economic equity
b. economic efficiency
c. economic growth

Explanation:

Question 11

The three economic questions (what, how, for whom to produce) are answered by an economy's system (e.g., market, command, mixed), income distribution, and if it's pure/mixed. Option d encompasses these aspects.

In a free enterprise/market economy, resources are owned and controlled by private individuals. Socialist/communist systems have more public ownership. So option a is correct.

Economic equity involves fairness in distribution, including protecting people from hardships like layoffs, illnesses. Efficiency is about resource use, growth is about output increase. So option a fits.

Answer:

d. Whether it is a pure or mixed economy

Question 12