Question 1
When discussing types of economic systems, the Canadian economy is best described as
◦ a mixed economic system.
◦ a command economy.
◦ primarily a public ownership economy.
◦ primarily free-market decision making.
◦ traditional.
Question 2
With regard to various economic systems, most economists agree that
◦ government intervention in the economy is only justified in time of war.
◦ most production and consumption decisions are more efficiently coordinated by markets than through central planning.
◦ the mix of market and command principles that exists in Canada is the best.
◦ command economies have been very successful in distributing income in socially just ways.
◦ the optimal mix of market and command systems remains constant over time.
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