ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Increase
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Decrease
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No change
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None of the above
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Detailed explanation-1: -Real GDP per capita and Gross National Income per capita are the two most common ways to measure the standard of living.
Detailed explanation-2: -Supporters of a capitalist system point to the higher production, greater wealth, and higher standard of living displayed by capitalist countries such as the United States.
Detailed explanation-3: -In a command economy, what goods and services are produced, how they are produced, and for whom they are produced are all questions answered by government planning.
Detailed explanation-4: -An oligopoly is when a few companies exert significant control over a given market. Together, these companies may control prices by colluding with each other, ultimately providing uncompetitive prices in the market.