Answers!
- What is the basic economic problem that societies must solve?
- How to allocate resources in order to best satisfy the needs and wants of people.
- In which economic system are price signals, resulting from supply and demand forces, the only determining factor for the goods and services that the economy produces?
- a market economy
- How do property rights influence the exchange of goods and services in the market?
- Property rights determine ownership of resources among businesses, individuals, and governments.
- A traditional economy is an economy where ____________
- economic decisions are based on traditions, culture, and beliefs.
- Which economy has the highest level of consumer sovereignty?
- market economy
Hope this helps! :)