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Economics Systems Review Flashcards | StudBud
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Economics Systems Review
Economics Systems Review
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StudBud Administration
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10 questions about economics covering from the systems to the policies.
Flashcards
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Questions
10
Answers
1
The primary motivating factor in a market economy is...
quality goods
market stability
profit
business growth
2
There is no pure ___________ economic system.
Traditional
Market
Mixed
Communism
3
Economics is the study of how to use limited resources to satisfy unlimited what?
supply
money
decisions
wants & needs
4
What is another name for an entrepreneur?
Business Owner
Consumer
Investor
Financial Advisor
5
In a command economy the decision on whom to sell the goods to is decided by who?
The government
Consumers
Federal reserve
The producers
6
This image portrays which economic system?
Socialism
Traditional
Communism
Market
7
Which question does NOT fit into the questions economic systems answer?
what to produce
where to sell it
how to produce it
who to produce it for
8
How many basic economic questions must every economic system answer?
3
7
2
9
9
What type of economy does the government control everything?
Market Economy
Command economy
Traditional Economy
Mixed Economy
10
What type of economy does the USA have?
Traditional
Mixed
Command
Market
