Identify which statement correctly describes an economic system. in a traditional economy, economic decisions are based on how things were done a century ago. in a market economy, profit motive is a motivating factor for entrepreneurs. in a command economy, individuals have little say in what goods get produced. in a market economy, competition is controlled by the government. a central planning unit of the government is key in a command economy. most nations in south america are considered to be traditional economies. in a market economy, the forces of supply and demand determine what gets produced. most actual economies in the world are classified as mixed economies.

I see most of the statements are correct. Please see if the question asks for INCORRECT statement instead. If so, then the answer is In a Market economy, competition is controlled by the government.

If the question is really asking for all correct statements, please mention in comment and I will list them out.

after lydia compare her check register to her bank statement, and the ending balances do not seem to match. then, she must make a bank reconciliation by putting the data all together.

to do this, she need to determine the bank ending balance. after, add the deposits in transit then deduct the outstanding checks. moreover, if the actual checkbook balance does not equal this number, check again for transporting errors by subtracting the balances and add the difference to nine. sometimes, a mathematical error can happen but a bank reconciliation is a great tool to resolve the discrepancies.