10. who decides how goods and services will be produced in a command economy? a. private business owners b. entrepreneurs c. individual consumers d. the government 11. why are retired people hurt by inflation? a. they're afraid of change. b. retired people often buy products that are especially likely to experience inflation. c. they live beyond their means. d. since they're on fixed incomes, their income doesn't rise to meet higher prices. 12. what term describes the rise in prices of most goods and services? a. deflation b. inelasticity c. inflation d. recession 13. what's a possible opportunity cost when you spend $100 on a pair of sneakers? a. $110 after inflation b. not being able to spend that $100 on some furniture for your house c. not being able to buy sneakers again d. $100 14. if a worker is free to quit a job and find a new job at another place of employment, what us economic goal has been met? a. economic security b. economic freedom c. economic justice d. economic stability 15. a useful characteristic of money is that money a. allows us to compare the values of goods and services. b. is something that everyone wants. c. is only printed by the us government. d. is difficult to count accurately. 16. the profit motive is important to a market economy because it a. encourages people to open businesses and invent new products. b. allows the government to collect extra in taxes. c. allows workers to get paid. d. encourages consumers to buy more products. 17. the price is the point at which supply and demand for a good are equal. a. elastic b. market c. perfect d. middle