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economies.","correct":true,"explanation":"These are the three broad economic systems, distinguished by how much decision-making is carried out through markets compared with government planning."},{"text":"Local, national and global economies.","correct":false,"explanation":"These describe geographical scales rather than decision-making systems. The three economic systems classified by decision-making are market, planned and mixed economies."},{"text":"Agricultural, industrial and service economies.","correct":false,"explanation":"These categories refer to the dominant sectors of production, not how resources are allocated. The relevant systems are market, planned and mixed economies."},{"text":"Domestic, regional and international economies.","correct":false,"explanation":"These terms describe the scope of economic activity and trade. The three main economic systems are market, planned and mixed economies."}]},{"id":"17c3595a-51b0-41d6-9439-8b03829ddb37","cardType":"basic","points":1,"front":"Who makes decisions in a market economy?","back":"Private consumers and firms, guided by prices and profit.","mcqOptions":[{"text":"Private consumers and firms, guided by prices and profit.","correct":true,"explanation":"Consumers and firms make choices in response to prices, while the pursuit of profit influences firms’ production and resource-allocation decisions."},{"text":"The state and central planners, guided by production targets and quotas.","correct":false,"explanation":"This describes a planned economy, where government planners allocate resources. In a market economy, private consumers and firms decide, guided by prices and profit."},{"text":"Trade unions and pressure groups, guided by wages and political influence.","correct":false,"explanation":"These groups may influence economic decisions but do not normally control the whole economy. Market decisions are made by private consumers and firms through prices and profit."},{"text":"Public authorities and elected representatives, guided by votes and tax revenue.","correct":false,"explanation":"This confuses market decision-making with government decision-making. Private consumers and firms make the key choices in a market economy, guided by prices and profit."}]},{"id":"ebcfec6d-0389-4660-b331-ec7af9975388","cardType":"basic","points":1,"front":"Who makes decisions in a planned economy?","back":"The state makes the economic decisions.","mcqOptions":[{"text":"The state makes the economic decisions.","correct":true,"explanation":"A planned economy relies on central government decision-making, with the state deciding how resources should be allocated and what should be produced."},{"text":"Private consumers and firms make the economic decisions.","correct":false,"explanation":"This is characteristic of a market economy, where private agents respond to prices and profit. In a planned economy, the state makes the economic decisions."},{"text":"Individual households make the economic decisions.","correct":false,"explanation":"Households influence demand but cannot independently coordinate the whole economy. In a planned economy, resource-allocation decisions are made by the state."},{"text":"The price mechanism makes the economic decisions.","correct":false,"explanation":"The price mechanism coordinates decisions mainly in a market economy. A planned economy instead uses state direction to make economic decisions."}]},{"id":"f0fd5ace-66d3-4773-8ae5-16a59eaebfd2","cardType":"basic","points":1,"front":"What determines the balance in a mixed economy?","back":"The balance between market forces and state intervention.","mcqOptions":[{"text":"The balance between market forces and state intervention.","correct":true,"explanation":"A mixed economy combines market allocation with government involvement, so its character depends on the relative importance of market forces and state intervention."},{"text":"The balance between consumer demand and producer supply.","correct":false,"explanation":"Demand and supply influence market prices, but they do not define the balance within a mixed economy. That balance is between market forces and state intervention."},{"text":"The balance between public ownership and private ownership.","correct":false,"explanation":"Ownership patterns may be involved, but the key distinction concerns how decisions are made. A mixed economy balances market forces with state intervention."},{"text":"The balance between taxation and government spending.","correct":false,"explanation":"These are fiscal policy variables, not the defining basis of a mixed economy. Its balance is determined by market forces and state intervention."}]},{"id":"dc9f29e6-cd88-4a7e-9320-a98d4e5b30ac","cardType":"basic","points":1,"front":"How does a market economy decide for whom to produce?","back":"Goods go to those with the ability to pay.","mcqOptions":[{"text":"Goods go to those with the ability to pay.","correct":true,"explanation":"In a market economy, purchasing power determines access to goods and services, so resources are directed towards consumers able and willing to pay."},{"text":"Goods go to those with the greatest need.","correct":false,"explanation":"Prioritising need is more associated with government provision or rationing. In a market economy, goods are allocated to those with the ability to pay."},{"text":"Goods go to those with the highest productivity.","correct":false,"explanation":"Productivity affects output and incomes but does not directly determine who receives goods. Market allocation depends on consumers’ ability to pay."},{"text":"Goods go to those chosen by the government allocation system.","correct":false,"explanation":"Government allocation is characteristic of planned provision rather than a market mechanism. In a market economy, goods go to those with the ability to pay."}]},{"id":"abc60b75-d9ae-4b56-9268-9235f66e0f27","cardType":"basic","points":2,"front":"How does a planned economy answer what, how and for whom to produce?","back":"Through central planning and political priorities.","mcqOptions":[{"text":"Through central planning and political priorities.","correct":true,"explanation":"A planned economy uses state planning to decide what and how much to produce, while political priorities influence who receives the resulting goods and services."},{"text":"Through market prices and profit incentives.","correct":false,"explanation":"These mechanisms answer the allocation questions in a market economy. A planned economy relies instead on central planning and political priorities."},{"text":"Through consumer demand and private ownership.","correct":false,"explanation":"Consumer demand and private ownership are central to market economies, not planned ones. Planned economies use central planning shaped by political priorities."},{"text":"Through customary rules and household decisions.","correct":false,"explanation":"These describe elements of traditional or small-scale economic organisation. A planned economy answers the questions through central planning and political priorities."}]},{"id":"eaa4a5e2-5471-46b5-8b0c-9d25d4fe0722","cardType":"basic","points":2,"front":"What does the state do in a mixed economy?","back":"It provides public goods and corrects market failure.","mcqOptions":[{"text":"It provides public goods and corrects market failure.","correct":true,"explanation":"Government supplies goods markets may undersupply and intervenes when markets produce inefficient or undesirable outcomes, such as externalities or information failure."},{"text":"It sets all prices and owns all firms.","correct":false,"explanation":"Complete price-setting and state ownership describe a centrally planned economy. In a mixed economy, the state provides public goods and corrects market failure."},{"text":"It redistributes all income and controls all imports.","correct":false,"explanation":"Governments may redistribute income and regulate trade, but these are not the defining functions listed here. The state provides public goods and corrects market failure."},{"text":"It leaves resource allocation entirely to private firms.","correct":false,"explanation":"Leaving allocation entirely to private firms describes a largely laissez-faire market system. A mixed economy includes state provision of public goods and correction of market failure."}]},{"id":"ef84e9e0-0c78-40e7-8ef2-f49c45ee6050","cardType":"basic","points":2,"front":"How does the price mechanism signal consumer preferences?","back":"Price changes signal what consumers want to producers.","mcqOptions":[{"text":"Price changes signal what consumers want to producers.","correct":true,"explanation":"When demand changes, prices provide information and incentives: rising prices encourage producers to increase supply, while falling prices indicate weaker consumer demand."},{"text":"Income changes signal what consumers want to producers.","correct":false,"explanation":"Income changes affect consumers’ purchasing power but do not directly communicate the relative strength of demand for particular products. Price changes perform that signalling role."},{"text":"Tax changes signal what consumers want to producers.","correct":false,"explanation":"Tax changes are government policy decisions and may alter prices or incentives, but they do not directly reveal consumer preferences. Price changes signal those preferences."},{"text":"Production costs signal what consumers want to producers.","correct":false,"explanation":"Production costs inform firms about profitability and supply conditions, not directly about consumer preferences. Changes in prices communicate what consumers want."}]},{"id":"6fdfe008-0832-4d87-ab10-4200f5c03d77","cardType":"basic","points":2,"front":"How does the price mechanism ration scarce goods?","back":"It allocates goods to consumers willing and able to pay.","mcqOptions":[{"text":"It allocates goods to consumers willing and able to pay.","correct":true,"explanation":"The price mechanism uses prices to determine who receives scarce goods: consumers must both want the goods and have sufficient income to pay for them."},{"text":"It allocates goods equally among all consumers, regardless of income.","correct":false,"explanation":"Equal allocation describes rationing by entitlement rather than the price mechanism. In a market economy, goods go to consumers willing and able to pay, so income affects access."},{"text":"It allocates goods to consumers who need them most, regardless of price.","correct":false,"explanation":"Prioritising need is associated with administrative or planned allocation. The price mechanism allocates scarce goods to consumers willing and able to pay, rather than assessing need directly."},{"text":"It allocates goods to consumers who register first with the government.","correct":false,"explanation":"First-come, first-served government registration is a non-market allocation method. The price mechanism allocates goods to consumers willing and able to pay through market prices."}]},{"id":"57598ce9-1d58-4230-892f-c93998fb07d4","cardType":"basic","points":2,"front":"Why do rising prices encourage firms to increase supply?","back":"They raise the expected profit from supplying the good.","mcqOptions":[{"text":"They raise the expected profit from supplying the good.","correct":true,"explanation":"A higher price increases potential revenue per unit. If costs do not rise by as much, firms expect greater profit, giving them an incentive to increase supply."},{"text":"They reduce the expected profit from supplying the good.","correct":false,"explanation":"A rising price normally increases revenue per unit, not reduces expected profit. Higher expected profit encourages firms to supply more, assuming their additional costs do not increase equally."},{"text":"They guarantee that the actual profit from supplying the good will increase.","correct":false,"explanation":"Higher prices raise expected profit, but actual profit is not guaranteed because costs, sales volumes and market conditions may change. The incentive comes from the expected return."},{"text":"They lower the expected cost of producing the good.","correct":false,"explanation":"A higher selling price does not necessarily reduce production costs. It encourages increased supply because it raises the expected profit available from supplying the good."}]},{"id":"6ec0ce20-b202-43dd-8681-a18be7848b45","cardType":"basic","points":1,"front":"What happens to electric-car prices when demand rises sharply in a market economy?","back":"The price rises, for example from £40,000 to £45,000.","mcqOptions":[{"text":"The price rises, for example from £40,000 to £45,000.","correct":true,"explanation":"A sharp rise in demand creates excess demand at the original price. The resulting competition between buyers pushes the market price upwards, such as from £40,000 to £45,000."},{"text":"The price falls, for example from £40,000 to £35,000.","correct":false,"explanation":"A sharp increase in demand puts upward pressure on price rather than downward pressure. The market price rises, for example from £40,000 to £45,000, as buyers compete for cars."},{"text":"The price remains fixed at £40,000.","correct":false,"explanation":"In a market economy, prices respond to changes in demand unless they are controlled or otherwise prevented from adjusting. Stronger demand therefore raises the price from £40,000 to £45,000."},{"text":"The price rises, for example from £45,000 to £50,000.","correct":false,"explanation":"The direction is correct, but the example starts from the wrong original price. The stated illustration is a rise from £40,000 to £45,000 after demand increases sharply."}]},{"id":"cdefa7dc-a9a7-4e5e-bc0d-5da9d4be170c","cardType":"basic","points":2,"front":"How does a higher electric-car price reallocate resources?","back":"Firms bid labour and batteries away from other uses to expand output.","mcqOptions":[{"text":"Firms bid labour and batteries away from other uses to expand output.","correct":true,"explanation":"The higher electric-car price makes production more profitable, so firms compete for relevant inputs. Labour and batteries move away from less profitable uses towards electric-car production."},{"text":"Firms bid land and fuel away from other uses to expand output.","correct":false,"explanation":"Land and fuel may matter, but this changes the specific resources identified in the answer. The example focuses on firms bidding labour and batteries away from other uses."},{"text":"Firms release labour and batteries to other uses as output contracts.","correct":false,"explanation":"A higher electric-car price encourages expansion rather than contraction. Firms bid labour and batteries away from other uses so they can increase electric-car output."},{"text":"The government transfers labour and batteries from other uses to expand output.","correct":false,"explanation":"This describes direct administrative reallocation, not the market mechanism. In a market economy, firms themselves bid labour and batteries away from other uses when higher prices improve incentives."}]},{"id":"ea36d6d6-f2a7-47c0-aefb-0f765b68f443","cardType":"basic","points":2,"front":"Why may a planned economy respond slowly to increased demand for electric cars?","back":"Planners must detect the change and rewrite targets and input allocations.","mcqOptions":[{"text":"Planners must detect the change and rewrite targets and input allocations.","correct":true,"explanation":"Planned economies rely on administrative decisions rather than automatic price signals. Planners must recognise increased demand and then alter production targets and the allocation of inputs."},{"text":"Planners must detect the change and lower targets and input allocations.","correct":false,"explanation":"Increased demand requires more, not fewer, resources for electric-car production. Planners must detect the change and rewrite targets and input allocations to respond."},{"text":"Consumers must detect the change and rewrite targets and input allocations.","correct":false,"explanation":"Consumers can reveal demand through purchases, but they do not normally set official production targets or allocate inputs in a planned economy. Those tasks fall to planners."},{"text":"Planners must detect the change and leave targets and input allocations unchanged.","correct":false,"explanation":"Leaving plans unchanged would fail to respond to higher demand and could create shortages. Planners need to rewrite targets and input allocations to increase provision."}]},{"id":"4070d1e7-7fba-4278-beb5-8bed26dd95a4","cardType":"basic","points":2,"front":"What can a delay or error in economic planning cause?","back":"

Shortages of goods in higher demand
Surpluses of unwanted goods

","mcqOptions":[{"text":"

Shortages of goods in higher demand
Surpluses of unwanted goods

","correct":true,"explanation":"If planning is delayed or inaccurate, production may not match consumer demand. Goods that are wanted are underprovided, causing shortages, while unwanted goods are overproduced, causing surpluses."},{"text":"

Surpluses of goods in higher demand
Shortages of unwanted goods

","correct":false,"explanation":"This reverses the consequences of planning errors. Goods in higher demand are likely to be underproduced and become shortages, whereas unwanted goods may be overproduced and become surpluses."},{"text":"

Shortages of goods in lower demand
Surpluses of essential goods

","correct":false,"explanation":"Planning errors do not necessarily produce this pattern. The key mismatch is shortages of goods whose demand is higher than expected and surpluses of goods consumers do not want."},{"text":"

Stable supplies of goods in higher demand
Balanced stocks of unwanted goods

","correct":false,"explanation":"A delay or error means production is less likely to match demand accurately, not more likely. It can create shortages of popular goods and surpluses of unwanted goods."}]},{"id":"25c5d89a-6a34-4124-9937-0941d40443af","cardType":"basic","points":2,"front":"What are two strengths of market economies?","back":"

They tend to be efficient.
They offer wide consumer choice.

","mcqOptions":[{"text":"

They tend to be efficient.
They offer wide consumer choice.

","correct":true,"explanation":"Competition and the profit motive can encourage firms to use resources efficiently, while competing suppliers seek to attract customers by offering a broad range of goods and services."},{"text":"

They tend to be inefficient.
They offer wide consumer choice.

","correct":false,"explanation":"Wide choice is a strength, but describing market economies as generally inefficient gives the opposite of the stated advantage. Competition and incentives can promote efficiency."},{"text":"

They tend to be efficient.
They offer limited consumer choice.

","correct":false,"explanation":"Efficiency is a recognised strength, but market competition generally expands rather than restricts consumer choice. Firms offer different products to attract customers and earn profits."},{"text":"

They tend to be equitable.
They offer wide consumer choice.

","correct":false,"explanation":"Market economies can provide wide choice, but they do not necessarily distribute income or goods equitably. The relevant strength is that they tend to be efficient."}]},{"id":"7342f355-766b-45f7-8ceb-74a06e77b883","cardType":"basic","points":2,"front":"What is a key weakness of market economies?","back":"The poorest may be unable to afford essential goods.","mcqOptions":[{"text":"The poorest may be unable to afford essential goods.","correct":true,"explanation":"Market allocation depends on ability to pay. People with the lowest incomes may be excluded from essential goods and services even when they need them."},{"text":"The richest may be unable to afford essential goods.","correct":false,"explanation":"The richest generally have the greatest ability to pay, so affordability problems are most likely to affect the poorest. Market prices can prevent low-income consumers accessing essentials."},{"text":"The poorest may receive too many essential goods.","correct":false,"explanation":"The key concern is insufficient purchasing power, not excessive access. The poorest may be unable to afford essential goods when markets allocate according to ability to pay."},{"text":"The government may be unable to afford essential goods.","correct":false,"explanation":"This changes the affected group and does not describe the main weakness of market allocation. The poorest may lack the income needed to purchase essential goods at market prices."}]},{"id":"8fe085e7-018a-4ab9-a573-37034793aa3c","cardType":"basic","points":2,"front":"Why can planned economies pursue greater equity and stability?","back":"The state can allocate resources according to social and political priorities.","mcqOptions":[{"text":"The state can allocate resources according to social and political priorities.","correct":true,"explanation":"Planned economies allow the state to direct resources towards socially desired outcomes, such as reducing inequality or maintaining employment, rather than leaving allocation mainly to market forces."},{"text":"The price mechanism can allocate resources according to consumer preferences and firm incentives.","correct":false,"explanation":"This describes market allocation, where prices coordinate consumers and firms. Greater equity and stability in a planned economy come from the state allocating resources according to social and political priorities."},{"text":"Private firms can allocate resources according to shareholder returns and competitive pressures.","correct":false,"explanation":"This prioritises private profitability rather than equity or stability. The correct explanation is that the state can allocate resources according to social and political priorities in a planned economy."},{"text":"International trade can allocate resources according to comparative advantage and global demand.","correct":false,"explanation":"Comparative advantage may improve efficiency through trade, but it does not directly ensure domestic equity or stability. In a planned economy, the state allocates resources according to social and political priorities."}]},{"id":"9ae0bf98-7677-40a3-8b07-7190d04b5536","cardType":"basic","points":3,"front":"Why do most real economies use a mixed system?","back":"

Markets provide efficiency and choice.
The state addresses market weaknesses.

","mcqOptions":[{"text":"

Markets provide efficiency and choice.
The state addresses market weaknesses.

","correct":true,"explanation":"A mixed economy combines the strengths of markets, including efficiency and consumer choice, with government intervention to correct market failures and address other weaknesses."},{"text":"

Markets provide equality and stability.
The state removes consumer sovereignty.

","correct":false,"explanation":"Markets do not automatically guarantee equality or stability, and mixed economies generally preserve consumer sovereignty. The correct combination is market efficiency and choice alongside state action on market weaknesses."},{"text":"

Markets provide central planning.
The state increases price competition.

","correct":false,"explanation":"Central planning is a function of the state, while price competition is mainly generated by markets. Mixed economies combine market efficiency and choice with state action to address market weaknesses."},{"text":"

Markets provide public goods.
The state guarantees perfect information.

","correct":false,"explanation":"Public goods and perfect information are examples of areas where markets may fail, not automatic market or state outcomes. The correct explanation combines market benefits with state correction of weaknesses."}]},{"id":"3dcc3510-8a54-482b-9042-939f43a42533","cardType":"cloze","points":null,"front":"In a market economy, the [ ] guides decisions, whereas in a planned economy the state makes them.","back":"In a market economy, the price mechanism guides decisions, whereas in a planned economy the state makes them.","mcqOptions":[{"text":"price mechanism","correct":true,"explanation":"The price mechanism communicates information about scarcity, demand and profitability, guiding decisions by consumers and firms in a market economy."},{"text":"state ownership","correct":false,"explanation":"State ownership is associated with planned economies and does not describe the market signal guiding private decisions. The correct term is the price mechanism, which uses prices to coordinate choices."},{"text":"production quota","correct":false,"explanation":"A production quota is a target imposed on output, usually by a planning authority. Market economies are guided by the price mechanism, rather than centrally fixed quotas."},{"text":"tax system","correct":false,"explanation":"Taxes can influence incentives, but they are not the main mechanism coordinating ordinary market decisions. The price mechanism guides decisions through changes in prices caused by demand and supply."}]},{"id":"643748a9-73b6-4048-9b79-4955ab39492a","cardType":"cloze","points":null,"front":"In a market economy, the price mechanism guides decisions, whereas in a planned economy the [ ] makes them.","back":"In a market economy, the price mechanism guides decisions, whereas in a planned economy the state makes them.","mcqOptions":[{"text":"state","correct":true,"explanation":"In a planned economy, the state makes major resource-allocation decisions, replacing the price mechanism as the main guide to production and consumption."},{"text":"price mechanism","correct":false,"explanation":"The price mechanism guides decisions in a market economy, so it cannot be the replacement for price signalling in a planned economy. The state makes the decisions instead."},{"text":"private sector","correct":false,"explanation":"The private sector consists of privately owned firms and individuals, whose decisions are typically coordinated by markets. In a planned economy, the state makes the key decisions."},{"text":"consumer sovereignty","correct":false,"explanation":"Consumer sovereignty describes consumers influencing production through their purchasing choices, not the authority making decisions in a planned economy. The state replaces this market-led process."}]},{"id":"b88e22c0-f909-4dd3-9b94-f1c2556bea30","cardType":"cloze","points":null,"front":"When demand for electric cars rises, the higher price signals greater [ ], causing firms to bid resources away from other uses.","back":"When demand for electric cars rises, the higher price signals greater expected profit, causing firms to bid resources away from other uses.","mcqOptions":[{"text":"expected profit","correct":true,"explanation":"A higher price, following increased demand, can raise the expected profitability of producing electric cars. This encourages firms to attract resources towards that expanding market."},{"text":"consumer surplus","correct":false,"explanation":"Consumer surplus measures the benefit buyers receive when willing to pay more than the market price. The signal attracting firms is greater expected profit, not consumer surplus."},{"text":"allocative inefficiency","correct":false,"explanation":"Rising demand and prices signal an opportunity for profitable production rather than allocative inefficiency. Firms respond because expected profit increases, encouraging resources to move into electric cars."},{"text":"average cost","correct":false,"explanation":"Average cost is the cost per unit of output and is not directly signalled by a rise in demand. The higher price signals greater expected profit to firms."}]},{"id":"5a1705bf-a969-4b44-a17f-303f9d785c5a","cardType":"cloze","points":null,"front":"When demand for electric cars rises, the higher price signals greater expected profit, causing firms to [ ].","back":"When demand for electric cars rises, the higher price signals greater expected profit, causing firms to bid resources away from other uses.","mcqOptions":[{"text":"bid resources away from other uses","correct":true,"explanation":"Higher expected profits make electric-car production more attractive, so firms compete for labour, capital and raw materials and divert these resources from less profitable uses."},{"text":"release resources into other uses","correct":false,"explanation":"This reverses the resource-allocation effect. Higher expected profit attracts resources into electric-car production, causing firms to bid resources away from other uses."},{"text":"reduce output to protect scarcity rents","correct":false,"explanation":"Firms normally respond to higher expected profits by expanding attractive production, not deliberately reducing output. They bid resources away from other uses to increase electric-car supply."},{"text":"set national production quotas","correct":false,"explanation":"National production quotas are a planning tool imposed by the state, not a normal response by market firms. Higher expected profit leads firms to bid resources away from other uses."}]},{"id":"67d84f1f-b7fc-4859-b73b-0ef313f3d8af","cardType":"cloze","points":null,"front":"In a planned economy, the state replaces price signalling by setting [ ] and prices directly.","back":"In a planned economy, the state replaces price signalling by setting output targets and prices directly.","mcqOptions":[{"text":"output targets","correct":true,"explanation":"Planned economies replace market signals with direct state decisions. Output targets tell producers how much to make, while the state may also set prices."},{"text":"consumer preferences","correct":false,"explanation":"Consumer preferences influence production indirectly through demand in a market economy. A planned economy replaces this signalling by setting output targets and prices directly."},{"text":"profit margins","correct":false,"explanation":"Profit margins are market incentives that influence private firms, whereas planned production is directed through state-set quantities. The correct term is output targets."},{"text":"exchange rates","correct":false,"explanation":"Exchange rates affect the value of currencies and international trade, but they do not specify how much a planned economy should produce. The state sets output targets."}]},{"id":"c1623820-ae46-4aea-a92a-abfa488b23f5","cardType":"cloze","points":null,"front":"In a planned economy, the state replaces price signalling by setting output targets and [ ] directly.","back":"In a planned economy, the state replaces price signalling by setting output targets and prices directly.","mcqOptions":[{"text":"prices","correct":true,"explanation":"In a planned economy, the state can set prices directly rather than allowing demand and supply to determine them through the price mechanism."},{"text":"wages","correct":false,"explanation":"The state may regulate or influence wages, but the paired decision described here is setting prices alongside output targets. Prices are the term that completes the sentence."},{"text":"interest rates","correct":false,"explanation":"Interest rates influence borrowing and saving, but they are not the general market prices referred to in this statement. Planned economies set prices directly alongside output targets."},{"text":"trade balances","correct":false,"explanation":"A trade balance records exports minus imports and is not directly set as a general price by the state. The relevant planned-economy decision is setting prices directly."}]}]}],"examCountdown":null,"heading":"1.4.1 decision-making in market, planned and mixed economies","title":"1.4.1 decision-making in market, planned and mixed economies Flashcards","topbar":{"backHref":"/international-a-level/economics/cie/flashcards"},"topicSidebar":"$L38"}]}],"topicId":"b61de26b-29e9-416c-8798-58968e2e799e","walled":"$L39"}],"$L3a","$L3b"]