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BBI Unit 1 Flashcards | StudBud

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Which is true in a Command Economy?

Which of the following is NOT one of the Three Economic Questions?

BBI Unit 1

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Questions 9

Answers

1
Which of the following is NOT one of the Three Economic Questions?
For Whom will it be produced?
When will it be produced?
How will it be produced?
What will be produced?
2
Which is true in a Command Economy?
Businesses are motivated to produce more to gain more profit
Whatever is most profitable is what companies will produce
Goods are produced for the citizens of the country
The government decides what to produce
3
Which of the following is part of Maslow's Theory called Hierarchy of Needs?
People are concerned about their safety first
Everyone satisfies their needs in a different order
People are mainly motivated by money & prestige
People tend to satisfy their needs in a specific order
4
Entrepreneurs
Like to follow experienced people in their industry
Get excited by their ideas.
Like to work in business with team environments.
Like to be their own boss.
5
This is the point of intersection of the supply curve and the demand curve
Surplus
Equilibrium
X Axis
Equalibrium
6
Which will NOT change quantity demanded?
Change in our population
Change in the number of producers
Change in consumer income
Change in expectations of the future
7
This is what a business pays to an inventor to use his or her invention.
copyright
rent
patent
royalty
8
Which of the following is a service and not a good?
plumbing
ice cream sandwich
dog walking
hamburger
9
These are people's most basic needs according to Maslow
esteem & recognition
love & belonging
physiological
safety & security