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Author Question: Socialism seeks to abolish the market-price system. In the economic way of thinking, socialism would ... (Read 146 times)

altibaby

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on: Jun 29, 2018
Socialism seeks to abolish the market-price system. In the economic way of thinking, socialism would therefore
 
  A) generate tremendous economic growth.
  B) overcome scarcity.
  C) lead to a greater coordination among peoples' production and consumption plans.
  D) allow everybody the opportunity to seek their comparative advantage.
  E) accomplish none of the above.

Question 2

Refer to the figure above. What is the total surplus after Lithasia opens up to free trade?
 
  A) 15
  B) 25
  C) 27
  D) 35


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Kaytorgator

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Reply #1 on: Jun 29, 2018
Answer to Question 1

E

Answer to Question 2

D


altibaby

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ebonylittles

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Reply 3 on: Yesterday
Excellent

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