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Question 1.

In which of the following ways is the private market sector similar to the public sector in terms of decision making?

• Votes by individual voters are basically equal in importance with dollars spent by individuals on goods.

• Both sectors may use a type of "force" if necessary.

• There is competition for scarce resource in both sectors.

• Prices determine the demand for goods and services in each sector.

Question 2.

When a person buys stock in a company, that person is buying ________, but when a person buys a bond in a company, that person is ________ the company.

• debt; lending funds to

• debt; borrowing funds from

• ownership; borrowing funds from

• ownership; lending funds to
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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Answer 1

There is competition for scarce resource in both sectors.

Answer 2

ownership; lending funds to
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