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