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What is Economics? Flashcards | StudBud
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What is Economics?
What is Economics?
20 terms
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StudBud Administration
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129 plays
economics
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Most societies have this form of economy...
Free Market Economy
Command Economy
Traditional Economy
Mixed Economy
2
Just for Fun! What is the name of the pretend pizzeria in the economic example?
WLMS Pizzeria
Wildcat Pizzeria
6th Grade Rocks Pizzeria
Paws Pizzeria
3
Just for Fun! At the end of the video, Mrs. Ainsworth says...
Thank you for being a part on my 1st video.
Thank you for listening
Thank you for watching
Thank you for watching and listening
4
Economics is...
how teachers meet with wants and needs.
how families meet their wants and needs.
how animals meet their wants and needs.
how people meet their wants and needs.
5
"The way it has always been done" drives which economic system?
Mixed Economy
Command Economy
Traditional Economy
Free Market Economy
6
Money and profit drive this type of economic system...
Traditional Economy
Command Economy
Free Market Economy
Mixed Economy
7
Which of the following is NOT one of the 3 basic economic questions?
How should goods and services be produced?
Why are goods and services produced?
Who uses or consumes these goods and services?
What goods and services should be produced?
8
Just for Fun! What happened during the video that caused Mrs. Ainsworth to become frustrated?
There was an announcement
Mr. Knickerbocker interrupted
The lights went off
There was a phone call
9
Which economic system provides for all people equally?
Traditional Economy
Command Economy
Mixed Economy
Free Market Economy
10
Individual buyers and sellers
answer the basic economic questions...
Command Economy
Free Market Economy
Mixed Economy
Traditional Economy
11
Who determines the amount of cheese and pepperoni we can put on our pizza in a
Free Market
?
The government and the people
The government
The traditions and customs
The people
12
Just for Fun! In the video, is Mrs. Ainsworth's hair longer or shorter than it is now?
shorter
longer
13
The
government
answers the basic economic questions under this form...
Mixed Economy
Command Economy
Free Market Economy
Traditional Economy
14
A country's economic system is directly connected to its...
history
geography
government
culture
15
Who determines the amount of cheese and pepperoni we can put on our pizza in a
Mixed Economy
?
the government and people
the traditions and customs
the government
the people
16
Habits and customs
answer the basic economic questions...
Command Economy
Traditional Economy
Free Market Economy
Mixed Economy
17
Government
and
individual buyers and sellers
answer the basic economic questions.
Mixed Economy
Free Market Economy
Command Economy
Traditional Economy
18
Who determines the amount of cheese and pepperoni we can put on pizza in a
Command
economy?
The government and the people
The traditions and customs
The government
The people
19
What type of economic system do we have in the United States?
Command Economy
Traditional Economy
Mixed Economy
Free Market Economy
20
How many basic economic systems are there?
3
1
4
2
