Economics basics Flashcards

1

A farmer in the Midwest plants corn and beans. Which type of economic activity is presented?

2

The motivation of a market economy is profit, what is the motivation of a traditional economy?

3

What economic activity refers to people providing a service?

4

What is the goal of Socialism?

5

A research scientist analyzes, interprets and evaluates information. Which economic activity?

6

Which of the following below is NOT a characteristic of a developed country?

7

The relationship between the cause of trade leading to globalization is…

8

An economic system in which people choose what to buy and sell is what type of economic system?

9

Which of the following factors is NOT a measure of economic development?

10

Which of the following terms below is NOT an economic system that described in class?

Economics basics