Chapter 2 quiz Flashcards

1

In a Free Enterprise economic system are Investments determined by the state?

2

In a Command Economy which of the following are problems?

3

Private/Corporate Ownership of the Factors of Production:

4

Socialism is the democratic means to to distribute wealth evenly

5

Who is the economist who Pioneered Communism

6

Economic Efficiency is an Economic Goal of a society?

7

How many Economic Systems do we have?

8

In a Command Market who owns the Factors of Production?

9

Which Economist came up with the term Laissez Faire?

10

The Three (3) Essential Economic Questions Are?

11

Mixed Economy is little government intervention

12

Which need(s) can NOT be fulfilled by the market place in a modern Mixed Economy?

13

Free Enterprise is:

14

In a Free market the Advantage(s) are?

Chapter 2 quiz