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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
10 terms
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StudBud Administration
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165 plays
This game prepares students for an assessment on economic systems.
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
Provide an example of how our government gets involved with labor.
They create environnmental laws
They ensure the safety of food/goods
They set a minimum wage
They protect competition
2
Identify an example of how government gets involved with producers.
Government ensures safety of food/goods
Government protects the environment from business pollution
Government sets a minimum wage.
Government prevents job discrimination
3
"...the last Trabant made in 1991 differed relatively little from its 1957 model."
Market (+)
Command (-)
Command (+)
Market (-)
4
"High unemployment continues to be a problem."
Command (+)
Market (+)
Market (-)
Command (-)
5
Identify an example of how our government gets involved with households.
They provide unemployment checks when necessary
They protect competition
They prevent job discrimination.
They pass environmental laws.
6
Which of these factors of production is out of place?
None
Garment Worker
Cotton
Sewing Machine
7
Identify an example of how our government gets involved in the consumer market.
Government ensures the safety of food/goods
Government pays welfare checks to those who qualify
Government prevents job discrimination
Government sets a minimum wage
8
Identify an example of how government gets involved with producers.
Government protects competition
Government prevents job discrimination
Government pays welfare checks to those who qualify.
Government sets a minimum wage.
9
What explains this German shopper's confusion?
Market consumers had never seen an advertisement before.
Competition leads to advertising, which is new for her.
She doesn't like the way that cow is looking at her.
Command consumers had never seen an advertisement before.
10
What does this photo demonstrate about economic systems?
Private ownership motivates property owners to maintain bldg
Gov. ownership led to beautiful neighborhoods.
Gov. ownership motivates property owners to be responsible.
Allowing private ownership led to disrepair
