4.12 ECO 102

Producers can focus on creating a quality product.

The production process becomes slower.

Businesses earn more money by selling a variety of goods.

The cost of production is decreased.

Production will increase. Lisa's employees can use what they learned in training to work more efficiently.

Production will stay the same. The training did not impact the way Lisa's employees work.

Production will decrease. Lisa's employees will spend more time training than completing their daily tasks.

Lisa should only offer one flavor of cake.

Lisa should hire more employees.

Lisa should invest in capital resources by buying a new cake mixer.

Market economy

Command economy

traditional economy

Market economy

Command economy

traditional economy

Market economy

Command economy

traditional economy

A restaurant owner decides to only make recipes that share common ingredients.

A country with a command economy refuses to trade with a country that has a market economy.

A mechanic works at a repair shop that also functions as a hair salon.

One nation produces car parts, then sends them to another nation to be assembled.

find peaceful resolutions to

go to war

quotas

tariffs

natural barriers

quotas

tariffs

natural barriers

quotas

tariffs

natural barriers