stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economic Systems Flashcards | StudBud
Explore
/
Economic Systems
Economic Systems
10 terms
·
StudBud Administration
·
17 plays
Economic Systems
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What kind of economic system does the United States have?
Command
Socialist
Mixed
Market
2
In a mixed economy the government provides the wants and the market provides the needs.
True
False
3
What are natural resources?
Raw materials that come out of a lab.
Raw materials found in nature used to produce goods.
People's knowledge, efforts and skills.
Raw materials that come from the government.
4
Most nations in the world have a command economy.
False
True
5
What is a command economy?
Controlled by the market
Controlled by the president.
Controlled by the government
Controlled by the people.
6
Name a country that has a command economy.
United States
China
England
France
7
In a market economy all of the wants and needs are provided by the market.
False
True
8
What is a traditional economy?
An economy that the government maintains.
An economy that is based on what your ancestors did.
An economy that is controlled by the market.
There is no such thing as a traditional economy.
9
In a command economy all of the needs are provided by government.
False
True
10
The primary goal of an economic system is to provide people with a minimum standard of living.
True
False
