Duplicate of 20-21 Economics Quiz 1

These are all characteristics of the U.S. economy EXCEPT:

What is TRUE about incentives?

Jim wants to play football and watch tv. He has to make a -

The amount of a good or service that consumers are willing and able to buy at a certain price is-

The factors of production are also known as

All of the following are resources EXCEPT-

This picture shows an example of an

This picture shows the concept of

The interaction of supply and demand determines____.

All are basic economic questions that must be answered EXCEPT:

This dictator of North Korea has which type of economy in his country?

All are true statements about a command economy EXCEPT:

what type of economic system does the United States have?

What is a command economy

What's the major difference between a free market economy and a mixed market economy?

This picture shows the concept of

Everyone in his family is a basket weaver. What type of economy is this?

The combination of all four resources leads to-

This man is the only owner of his shop. His business must be a

This company represents which type of business structure?

What type of resource is this?

Should Jim play football or watch tv? He chose tv. What's the opportunity cost?

What type of resource is this?

The amount of a good or service that PRODUCERS are willing and able to sell at certain price is-

Scarcity is caused by ___________ resources.

What is consumer sovereignty?