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