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Please help me with the following questions: 1' Wthh f the fo'lDWlng makes trade'c's necessary? 3_ The government of country X owns the means of

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Please help me with the following questions:

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1' Wthh f the fo'lDWlng makes trade'c's necessary? 3_ The government of country X owns the means of production, 0 Diminishing marginai returns determines incomes and investment, and decides what goods should be produced and how they should be traded. What 0 Diminishing marginal utility economic system does Country X have? Command 0 Umited resources and unlimited wants and needs Capitalist Entrepreneurial 0 Different opportunity costs Free Enterprise 0 An excess of supply MIXEd 2.Which of the following statements about the factors of production is accurate? 4. Country X allows market forces to guide its economy. However, it does regulate some transactions and has set a They are all scarce because of unlimited wants and needs. minimum wage for workers. What kind of economy does They are not subject to the law of diminishing marginal benefit. this country have? They are categorized into consumer, capital, labor, and entrepreneurship. Most are scarce, except for non-rival factors. Centralized They are acquired in the product market. Command Market Mixed Private

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