10 Questions
In Canada, the level of government involvement in resource ownership is based on:
The party in charge
What is a Crown corporation in Canada?
A company owned by the government to provide products and services
In a traditional economy, economic decisions are based on:
Past practices and ancestral wisdom
What happens to price when demand decreases and supply increases?
The price decreases
What is a monopoly in the context of economics?
When one producer controls the entire supply
In a traditional economy, economic decisions are based on:
Past practices and wisdom of ancestors
In Canada, the level of government involvement in resource ownership is based on:
The political party in charge
What happens to price when demand decreases and supply increases?
The price decreases
What is a Crown corporation in Canada?
A company owned by the government to provide products and services to Canada
What is a monopoly in the context of economics?
When one producer controls the entire supply
Test your knowledge of market economies with this quiz. Explore the concepts of a free market economy, individual decision-making, private ownership of resources, and minimal government involvement. See how much you know about the economic continuum and the characteristics of a market economy.
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