Question Description
14.
What impact does the location of resources around the globe have on countries and their economies? Answer in at least one well-developed paragraph.
15.
In one well-developed paragraph, explain why specialization is important in the operation of a market.
16.
In an answer of at least two well-developed paragraphs, explain the advantages and disadvantages of free market economies.
17.
In an answer of at least two-well developed paragraphs, explain how a free market economy operates.
18.
In an answer of at least four well-developed paragraphs, explain how centrally planned economies prioritize economic goals and detail the advantages and disadvantages that result from such prioritization. You should provide a thorough explanation.
19.
In an essay of at least two well-developed paragraphs, compare and contrast the characteristics of three of the countries that have mixed economies that you learned about.
20.
In an answer of at least two well-developed paragraphs, explain how the government is involved in the circular flow of money and the circular flow of products.
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