What kind of market system does the United States have?

Socialist market system

Communist market system

Representative market system

Free - market system

What happens to the cost of a product when demand for the product is high?

cost goes up

cost goes down

cost stays the same

What happens to the cost of a product when demand for the product is low?

cost goes down

cost goes up

cost stays the same

What happens when demand for a product is high and supply is low?

opportunity cost

Specialization

scarcity

Trade-off

What happens when you have a high supply of products but have low demand?

scarcity

depression

surplus

specialization

Question

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Alejandra Patterson

8 December, 09:01

What kind of market system does the United States have?

Socialist market system

Communist market system

Representative market system

Free - market system

What happens to the cost of a product when demand for the product is high?

cost goes up

cost goes down

cost stays the same

What happens to the cost of a product when demand for the product is low?

cost goes down

cost goes up

cost stays the same

What happens when demand for a product is high and supply is low?

opportunity cost

Specialization

scarcity

Trade-off

What happens when you have a high supply of products but have low demand?

scarcity

depression

surplus

specialization

+1

Answers (1)

Know the Answer?

Leslie · Answer 1

America has a free market system, the cost will drop in order to receive sales and will attract consumers, when a demand is low then the cost goes up, when the demand for a certain product is high and the supply is low then you will have scarcity, and for the last question the answer is surplus since they will drop the price in order to get more buyers so they can hit their number's when selling that product.