Controlled Markets and Government Intervention Quiz

Entrepreneurs have no margin of profit in a controlled market

The state has no intervention in determining what goods are to be produced or the prices at which they may be obtained

In a controlled market, manufacturers are free to produce whatever products they presume would be demanded by consumers

Goods get their prices only by direction from the state (correct)

To keep prices within an unaffordable range for individuals in the lower socio-economic group

To allow entrepreneurs to make excessive profits

To allow a reasonable margin of profit to entrepreneurs and to keep prices within an affordable range for individuals in the lower socio-economic group (correct)

To eliminate the production of basic items such as bread, milk, cheese, flour etc.

A market where only a selected few consumers have the power to determine the prices of goods

A market where manufacturers are not free to produce whatever products they presume would be demanded by consumers

A market where the state intervenes in influencing suppliers or consumers as to what and how much should be produced or consumed

A market where the prices of goods are determined by the forces of supply and demand without any interference by the state or other agencies (correct)

<p>A market where the state or other agencies intervene in determining what goods are produced, to whom they may be distributed, or the prices at which they may be obtained</p> Signup and view all the answers

<p>To allow a reasonable margin of profit to entrepreneurs and to keep prices within an affordable range for individuals in the lower socio-economic group</p> Signup and view all the answers

<p>A market where there is no interference by the state or other agencies in influencing suppliers or consumers as to what and how much should be produced or consumed</p> Signup and view all the answers