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Economics and Economic Systems Flashcards | StudBud

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Which system is also called a "capitalist" system?

This is the study of people and choices.

Economics and Economic Systems

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#Economics #EconomicSystems #Globaleconomy

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Questions 10

Answers

1
This is the study of people and choices.
Microeconomics
Scarcity
Economics
Macroeconomics
2
Which system is also called a "capitalist" system?
Mixed
Command
Market
Traditional
3
An economy where the government makes decisions about businesses but individuals own them?
Mixed Economy
Market Economy
Command Economy
Traditional Economy
4
Scarcity is the tension between _______ and _______?
limited desires and unlimited things
limited time and unlimited resources
infinite resources and finite wants
infinite wants and finite resources
5
An economy where the government makes all business and social decisions is known as a ________?
Command Economy
Traditional Economy
Market Economy
Mixed Economy
6
What is Microeconomics?
The study of how the car industry makes money
The study of small organisms
The study of the stock market's finances
The study of how individuals / consumers boost the economy
7
What you give up to do something is known as _________?
Liability
Opportunity Cost
Opportunity
Cost sharing
8
An economic system that is driven by customs and providing for the family is known as _______?
Market Economy
Mixed Economy
Command Economy
Traditional Economy
9
An economy where individuals make all business and social decisions is known as a _________?
Market Economy
Mixed Economy
Command Economy
Traditional Economy
10
What is Macroeconomics?
The study of individual economics
The study of small businesses
The study of big ecosystems
The study of the economy as a whole