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Brief Economics Review Flashcards | StudBud
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Brief Economics Review
Brief Economics Review
10 terms
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StudBud Administration
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140 plays
Reviewing notes from class
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What was the
main
topic covered in class today?
Economics
Citizenship
Political Systems
Governments
2
Refer to the raw materials
Land
Labor
Capital
Entrepreneurship
3
System where the government controls the factors of production
Business Economy
Market Economy
Command Economy
4
Where traditions, customs & beliefs shape the goods and services the economy produces
Mixed Economy
Market Economy
Traditional Economy
5
Who is the father of economics?
George Washinton
Adam Smith
Johnny Appleseed
Mr. Haddox
6
What's the 3 basic questions economies must answer?
How? When? What?
What? How? Whom?
Who? What? Why?
7
workers do all things physical & intellectual
Capital
Labor
Land
8
Where particular individuals specifically deal with the consumers & producers
Business Economy
Low Economy
Market Economy
9
3 types of economics
Command, Control, Conqur
Traditional, Command, Market
Traditional, New, Middle
Traditional, Medieval, Anarchy
10
refers to buildings, machines & tools used in the process of production
Capital
Labor
Land
Entrepreneurship
