Economics Review

Which economic system has a government which controls production and resources?

Which is an example of a free enterprise economy?

When there is a shortage of oil in the USA, which factor of production is in short supply?

The USA depends on China for manufactured goods and China depends on the USA to purchase their goods. This is -

Buying bananas and wheat flour to run a bakery is an example of which factor of production?

Which demographic term determines a country's standard of living?

When the supply of oil exported to the USA becomes scarce, the price -

An increase in supply of an item causes the price to -

Which economic activity is an example of agriculture?

Which economic system encourages competition and produces products based on consumer wants and needs?

Countries depending on each other for goods and services is called -

Buying lawn mowers, a truck and trash bags to begin a lawn service is which factor of production?

A country that is economically developed -

The person with the knowledge and skills to open a business is an example of which factor of production?

When the supply of an item goes down, the price goes -

Which demographic term determines the quality of a country's education system?

Which economic activity is an example of manufacturing?

Which demographic term determines how crowded a country is?

Which demographic term can determine the quality of a country's healthcare system?

Which economic activity is an example of a service?

___ has increased globalization

Which is an example of a communist or command economy?

The more scarce in item is, the -

Managers, cooks and waiters are all examples of which factor of production?