Economic Systems Review Flashcards

1

Which is the economic system where productive resources are owned by the government?

2

Which is not one of the 3 basic economic questions?

3

Which is not a characteristic of a Market economy?

4

Term meaning Level of Economic Prosperity

5

Term Economists use to describe self-regulating nature of the marketplace

6

Which economic system makes decisions based on customs?

7

Which is the most essential for an efficient market economy?

8

Which of the following do households provide businesses with?

9

What is an advantage of centrally planned economies?

10

Ingberg goes to Hyvee to buy a sandwich. Hyvee has a 20% off sale on sandwiches. Who benefits?

Economic Systems Review