Economics part 1 and 2 quiz review

What does the red arrow indicate?

the gov't makes the major economic decisions

When did Keynes support govt intervention in the economy?

What term most closely goes with Adam Smith?

Whose policies align with New Deal programs?

What does this represent

individuals and businesses own resources, make economic decisions

amount of a good/service supplied is greater than demanded

What did Marx think would happen after the lower class revolted?

What Marvel character am I thinking of right now?

the price where demand and supply are balanced

Division of labor, competition, and self interests connect to the ideas of:

Which does not represent a shortage?

situation in which the supply of the good/service available is less than the demand for it

the amount of a good or a service consumers are willing/able to buy

When making chocolate, what is considered capital?

During what time period was government role most limited in the US?

Holiday clearance sales are a result of...

what system has higher government control and more covered services (paid by taxes)?

the amount of a good/service that producers are able to provide

Whose ideas were a reaction to the problems of the industrial era?