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Duplicate of Economics Systems Review Flashcards | StudBud
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Duplicate of Economics Systems Review
Duplicate of Economics Systems Review
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StudBud Administration
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17 questions about economics covering from the systems to the policies.
Flashcards
10 cards
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Questions
10
Answers
1
The primary motivating factor in a market economy is...
business growth
quality goods
market stability
profit
2
What type of economy does the government control everything?
Market Economy
Traditional Economy
Command economy
Mixed Economy
3
This image portrays which economic system?
Traditional
Communism
Market
Socialism
4
What is another name for an entrepreneur?
Consumer
Business Owner
Investor
Financial Advisor
5
Economics is the study of how to use limited resources to satisfy unlimited what?
decisions
money
wants & needs
supply
6
In a command economy the decision on who to sell the goods to is decided by who?
Consumers
The producers
Federal reserve
The government
7
There is no pure ___________ economic system.
Traditional
Market
Communism
Mixed
8
Which question does NOT fit into the questions economic systems answer?
who to produce it for
what to produce
where to sell it
how to produce it
9
How many basic economic questions must every economic system answer?
9
3
2
7
10
What type of economy does the USA have?
Mixed
Traditional
Market
Command
