Economic Systems Review

Which of the following is NOT an example of a factor of production?

When wants do not equal resources this is known as_______________?

I feel ready for this exam

The video shows the country Cuba, what type of economic system does Cuba have CURRENTLY?

Canada has a market economy and the US has a mixed

The correct economic systems are:

In what kind of economy are economic decisions controlled by the gov't? (2 answers)

Senior Pensions and Public Health Care represent a shift left

There are 1000 video games for sale, 5000 people want the game, what will happen to the price?

Not enough factors of production leads to economic scarcity.

A company that has sole control or ownership over a business or resource is a monopoly 

Supply = Demand = Price =???

In Canada, there is a lot of government ownership in 

"I want a government who won't hang me out to dry if I hit hard economic times" would want a

Which of the following would be present in a Mixed, but NOT a Market economy

An organization created to work towards employment rights and standards is a 

Competition and monopoly are the same thing

How would a Mixed economy respond to unemployment?

As demand goes up, supply goes down, and the price goes down too

The video discusses changes to Cuba's economy, these change would be a shift ______.

The Factors of Production are supply and demand.

In a Market economy, what is the government's main duty?

In a mixed and market economy, what is the job/role of the CONSUMER?

Which of the following does NOT answer one of the economic questions?

The Canadian government INCREASES government intervention: this is a shift ________