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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
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Economic Systems
Flashcards
8 cards
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Questions
8
Answers
1
What is a command economy?
Controlled by the government
Controlled by the president.
Controlled by the market
Controlled by the people.
2
Name a country that has a command economy.
France
United States
England
China
3
The primary goal of an economic system is to provide people with a minimum standard of living.
True
False
4
In a market economy all of the wants and needs are provided by the market.
False
True
5
What are natural resources?
Raw materials found in nature used to produce goods.
Raw materials that come out of a lab.
People's knowledge, efforts and skills.
Raw materials that come from the government.
6
What kind of economic system does the United States have?
Command
potato
Mixed
Socialist
7
In a command economy all of the wants and needs are provided by government.
True
False
8
Most nations in the world have a command economy.
True
False
