stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Economic Systems Flashcards | StudBud
Explore
/
Duplicate of Economic Systems
Duplicate of Economic Systems
15 terms
·
StudBud Administration
·
69 plays
Economic Systems
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
In which economic system would you expect wide selection of consumer goods?
Traditional
Socialist
Free Enterprise
Communist
2
What forces play the greatest role in the distribution of goods and services in free enterprise
court rulings and expert opinions
village elders and community leaders
Producer supply and consumer demand
government officials and the military
3
Subsistence Farming =
Farmers raise just enough crops for their family
The government decides which crops will be grown
4
Native groups, tribes, and clans would most likely be categorized as what type of economy?
Traditional Economy
Communist Economy
Free enterprise
Market Economy
5
Beijing has lots of pollution because of all of the following EXCEPT-
Industry
Population
Politics
Religion
6
Russia, Cuba, North Korea and Vietnam are all examples of which type of economy?
Communist(Command) Economy
Market Economy
Mixed Economy
Socialism
7
This is a NEGATIVE impact of the modern tractor
High labor maintenance costs
inefficient new farming methods
Overpopulation of horses
increased use of nonrenewable resources
8
Because of its climate and soils, Columbia grows coffee beans. This is an example of...
Columbias physical geography determines its econ activity
Major urban centers along a river
Natural resources are more important than climate
9
In a traditional economy...
Government directs and controls the means of production
Large businesses are motivated by profit
Tradition and customs greatly influence economic decisions
Supply and demand regulate prices
10
The interaction of supply and demand, Profit Incentive, and Entrepreneurs are...
A socialist economic system
Types of economic systems
characteristics of a free enterprise economy
cottage industry
11
This is a central characteristic of a free market economy
All wage earners paid the same
Government owns means of production
The government bans all labor unions
Businesses are driven by the desire for profit
12
Which is an example of humans adapting to their environment?
desalinization plant
political boundaries
command economies
13
Who makes all of the economic decisions in a communist economic system?
Consumers
Government Officials
Farmers
Business Leaders
14
The form of government in which the power is entrusted to the hands of a king and queen
Monarchy
Dictatorship
Democracy
Oligarchy
15
What major economic question(s) should every country answer?
Who will get the goods that we produce?
All of the Above
What should we produce?
How should we produce it?
