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economic systems
economic systems
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#SS9Chapter6#economic systems introduction
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which is NOT an economic system?
market economy
customer economy
command economy
traditional economy
2
The Haudenosaunee Confederacy was an example of a __________ economy.
market
mixed
command
traditional
3
The United States has a __________ economy.
command
market
traditiona
mixed
4
Scarcity is the problem in which
there are unlimited wants, but limited resources
there are limited wants and limited resources
there are limited wants, but unlimited resources
there are unlimited wants and unlimited resources
5
The study of the production, distribution and consumption of goods and services is called
politics
economics
economic system
Social Studies
6
China is an example of a __________ economy.
command
traditional
market
mixed
7
Which is NOT an example of a factor of production?
capital
supplies
land
labour
8
Which is NOT one of the basic economic questions?
What to produce?
Who gets what is produced?
How to produce it?
Where to produce it?
9
Canada's economy is a __________ economy.
market
command
mixed
traditional
10
In a command economy, who makes important decisions about the economy?
the government
producers and consumers
everyone in society
buyers and sellers