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Economic Systems Flashcards | StudBud

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Economic Systems

10 terms·StudBud Administration·131 plays

Economic systems

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Questions 10

Answers

1
Services are things you can see or touch
False
True
2
Business compete for consumers
Traditional Economy
Market Economy
Command Economy
3
Sometimes bases on religious beliefs
Command Economy
Market Economy
Traditional Economy
4
Capital resources
include water, wind, and coal
include an educated work force
include equipment, money, and property
5
No Government Control
Command Economy
Traditional Economy
Market Economy
6
Based on cultural beliefs and ideas
Command Economy
Traditional Economy
Market Economy
7
A designer JACKET is a
Need
Want
8
Needs are basic living requirements
False
True
9
Needs are things you HAVE to have
False
True
10
Total Government Control
Traditional Economy
Command Economy
Market Economy