The difference in the three most prevalent economic systems lies in how ?
Correct answer: B. much the government interferes in the economy
- A. the people respect the government
- B. much the government interferes in the economy
- C. profits are made
- D. easy it is become rich
Explanation
Economic systems are chiefly distinguished by the extent and method of government involvement in production, ownership, and allocation. The key contrast is therefore how much the government interferes in the economy.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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