Question

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

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.