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
10 terms
·
StudBud Administration
·
13 plays
Economic Systems
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What kind of economic system does the United States have?
Mixed
Socialist
Command
Market
2
What are natural resources?
Raw materials found in nature used to produce goods.
Raw materials that come out of a lab.
Raw materials that come from the government.
People's knowledge, efforts and skills.
3
In a command economy all of the wants and needs are provided by government.
True
False
4
The primary goal of an economic system is to provide people with a minimum standard of living.
True
False
5
Name a country that has a command economy.
France
United States
England
China
6
What is a command economy?
Controlled by the president.
Controlled by the people.
Controlled by the market
Controlled by the government
7
In a market economy all of the wants and needs are provided by the market.
True
False
8
What is a traditional economy?
An economy that the government maintains.
An economy that is controlled by the market.
An economy that is based on what your ancestors did.
There is no such thing as a traditional economy.
9
In a mixed economy the government provides the wants and the market provides the needs.
True
False
10
Most nations in the world have a command economy.
True
False
