Question

1. an economic system determines:

what to produce.
how to produce.
for whom to produce.
all of these choices are correct.

1. in a socialistic economy, the government decides what and how many goods to produce.
2. an economic system based upon supply and demand for a product is a market economy.
3. the economy in the u.s. is based upon a market system.
4. another name for a market system is socialism.
5. the free market system is based upon

the right to own land and capital
freedom of choice
competition
all of these choices are correct.

1. competition is the drive to be or do better than anyone else.

Explanation:

Answer:

1. All of these choices are correct.
2. True
3. True
4. True
5. False
6. All of these choices are correct.
7. True