Question
1.Enumerate five advantages and five disadvantages of a planned economic system. 2.Highlight four steps followed in the scientific method used in economics 3.Outline six advantages
1.Enumerate five advantages and five disadvantages of a planned economic system.
2.Highlight four steps followed in the scientific method used in economics
3.Outline six advantages of a controlled market system
4.summarize five ways through which the government could influence
the allocation of resources in a free market economy
5.Differentiate between microeconomy theory and a macroeconomy theory
6.Explain the three basic economic problems
7.Outline six limitations of a free market economy
8."a government might intervene in a free market economic system" discuss
five reasons that might drive a government to intervene
9.Explain four disadvantages of a planned economy
10.Summarize four roles of economy agents in a mixed economy
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