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Candis: 6th & 7th Grade Economics Systems Review Flashcards | StudBud
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Candis: 6th & 7th Grade Economics Systems Review
Candis: 6th & 7th Grade Economics Systems Review
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StudBud Administration
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10 questions about economics covering from the systems to the policies.
Flashcards
10 cards
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Questions
10
Answers
1
How many basic economic questions must every economic system answer?
7
9
3
2
2
There is no pure ___________ economic system.
Communism
Market
Mixed
Traditional
3
Which question does NOT fit into the questions economic systems answer?
who to produce it for
how to produce it
what to produce
where to sell it
4
The primary motivating factor in a market economy is...
quality goods
business growth
market stability
profit
5
In a command economy the decision on whom to sell the goods to is decided by who?
The producers
Federal reserve
The government
Consumers
6
What type of economy does the USA have?
Mixed
Traditional
Command
Market
7
What type of economy does the government control everything?
Command economy
Traditional Economy
Mixed Economy
Market Economy
8
This image portrays which economic system?
Traditional
Communism
Market
Socialism
9
Economics is the study of how to use limited resources to satisfy unlimited what?
wants & needs
decisions
money
supply
10
What is another name for an entrepreneur?
Consumer
Financial Advisor
Business Owner
Investor
