Free to Choose: A Personal Statement Short Answer Test - Answer Key

This set of Lesson Plans consists of approximately 106 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Free to Choose: A Personal Statement Lesson Plans

1. The economy functions on the basis of:

voluntary cooperation

2. According to Friedman, the former Soviet economy was based on:

command

3. The command elements of every economy include things like:

prices

4. Adam Smith says that voluntary exchange will not take place unless:

both parties benefit from it

5. The price system functions in such a way that each individual acting in his own best interests, makes everyone better off. This concept is known as the:

invisible hand

6. Adam Smith wrote:

The Wealth of Nations

7. Which of the following is not a function of the price system:

government established prices

(read all 180 Short Answer Questions and Answers)

This section contains 4,270 words
(approx. 15 pages at 300 words per page)
Buy the Free to Choose: A Personal Statement Lesson Plans
Copyrights
BookRags
Free to Choose: A Personal Statement from BookRags. (c)2017 BookRags, Inc. All rights reserved.
Follow Us on Facebook