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AP Microeconomics 1.2 Resource Allocation and Economic Systems Questions

Compare economic systems by ownership, incentives, planning, and resource allocation, using market and command-economy examples to explain how choices are organised.

Syllabus
Effective Fall 2022
Course
AP Microeconomics

Exam points

  • compare market, command, and mixed economies by ownership, incentives, and resource allocation
  • explain how property rights and price signals coordinate production and consumption

Covered syllabus points

MKT-1.B—Define how resource allocation is influenced by the economic system adopted by society

Question 1

[Maximum number: 1]

Which of the following would NOT be considered a characteristic of a market or capitalistic economy but that of a command or communist economy?

A

Protection of private property

B

Negative externalities

C

The price system to allocate resources

D

Competition among firms

E

Centralized decision making

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