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AP® Microeconomics

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Moderate

Command and Market Systems

APMICR-ZGI4YM

Shane is asked by his Economics teacher to explain differences between Command and Free Market systems.

Shane correctly answers that the two basic differences are:

A

Who owns the factors of production, and the methods used to coordinate economic activity.

B

How often goods are produced, and how frequently they will be delivered to the marketplace

C

The technology used in production, and the quantity and quality of natural resources.

D

The political system in place, and the degree of scarcity facing the economy.

E

The structure of the national legislature, and the level of influence of the executive agency in charge of each sector of production.