Economic systems

Prices determined by supply and demand?

What are the two markets in the circular flow?

Competition determines price?

No technology?

If money is not ______, inflation will occur.

In the circular flow, in which market do the businesses provide goods to the households?

No fighting?

In the circular flow, in which market do households provide revenue to the businesses?

All resources are owned by individuals?

Which of the following is not a question that a country has to answer to determine its economic system?

In the circular flow, in which market do the households provide labor to the businesses?

You must be able to exchange money for goods?

Leads to corruption?

Which of the following is not a sector in the circular flow?

Money can be broken into smaller units?

Money can last and withstand wear and tear?

Which of the following is not a use of money?

Money must be able to be carried in a wallet of purse?

Determines the value of goods?

Resources owned by the government?

Stability?

Occasional market failures?

In the circular flow, in which market do businesses provide income to households?

Hunt for food?

What are the transfer payments from government to business called?

Family centered?

No competition, no profit?

What are the transfer payments from government to households called?

How does the government get most of its money?

Government protects people from unfair business practices?

Government regulates production of goods? (safety)

Capitalism?

You can pay with a $20 bill or with four $5 bills.

Compares the value of goods?

Government intervention can hinder progress?

Keeps value for later use?

What is the name of the book written by Karl Marx and Frederick Engels?