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1. The government determines who should produce the products.
2. An economic system is the system that/which a society uses for allocation and distribution of scarce resources.
3. He is a complicated person whose character has many sides.
4. Ann works for a company that makes washing machines.
5. The people who work in the office are very friendly.
6. A dictionary is a book that gives you the meaning of words.
7. I recently went back to the town where I was born.
6. Join the sentences using who, which or whose.
1. It was a crisis. She was totally unprepared for it.
2. I found three letters in the morning post. Two if them were from our partners.
3. The man is the manager of the company. You were talking to him.
4. Steven is an economist. His office is in Baker Street.
5. Adam Smith is a philosopher. He wrote his famous book in Economics.
6. There is a student in our group. His work in Economics won the first prize.
7. I am working at a project. It is very interesting.
8. She received ten letters. Some of them were from England.
7. Fill in that, what, who, which, whom, how.
The way … each individual lives in a society is based on how the country handles problems and questions involving their economy. These are issues dealing with inflation, consumer needs, and so forth. When it comes to an economy, there are three basic economic questions … each must answer:
What will be produced with our resources?
How will these goods be produced?
For … will we produce these goods?
A traditional economy is an economy … answers the three questions based on their social customs and how the society has dealt with these questions in the past.
A market economy is the type of economy … the United States has and these questions are answered in the marketplace by the interaction of buyers and sellers. For example, the question of … to produce may be based on … trend is popular right now. The producer would create a product … they think would sell well to the public in hopes to make a profit. The question of … to produce is usually based on the producer's choice. They might decide to produce a product with more workers or they might decide to produce it more with machines and computers to save on labor costs. The question involving for … to produce is based on the buyer … decides … they want or need and … price they are willing to pay for it.
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