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Chapter 4 SGQ - 8 Describe the nature of privatization in...

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Study Guide Questions for Chapter 4: Spring 2011 1. Define a command economy. 2. Define a free market economy. 3. Define a mixed economy. 4. Explain the supply curve. 5. Explain the demand curve. 6. Explain the free market “market clearing” mechanism. 7. Describe the role of government in a free market economy?
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Unformatted text preview: 8. Describe the nature of privatization in mixed economies. 9. What are the differences between the Human Development Index and static measures of economic development such as GDP/Capita, GNP/Capital, and PPP? 10. Describe the major functions of government in a free market economy....
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