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Economics Flashcards | StudBud

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Economics

11 terms·StudBud Administration·1 play

Economics basics

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Questions 11

Answers

1
Which of the following is NOT an economic and social goal
Population projections
Full Employment
Economic Efficiency
Price Stability
2
The most common type of economic system in the world today is the
market economy
traditional economy
command economy
all are common throughout the world today
3
Protector, provider and consumer and regulator are all
Roles of the Entrepreneur
Roles of the Government
Roles of the individual
Roles of the movie stars
4
Corporations make up
About 20 percent of all business organizations
Almost 90 percent of all business organizations
About half of all business organizations
About 30 percent of all business organizations
5
Inflation would be
a system in which the factors of production are state owned
a rise in the general level of prices
ones one is fixed even as prices go up
the idea that people rule the market
6
Every society has this as a way of allocating goods and services
A nice beach
Many office buildings
An economic system
A research team
7
The conflict which arises in raising the minimum wage versus costs to employers would be
Trade Offs
Compensation
Trades and changes
Conflicting curves
8
Entrepreneurs must do this when starting a new business
take risks
take time
take medication
take vacations
9
The three types of economic systems include all EXCEPT
traditional economy
command economy
market economy
main economy
10
Which is NOT an example of a business organization
corporations
proprietorships
advantage associations
partnerships
11
A system in which there is free economic activity with some limited government regulation
Modified congruent system
Modified private enterprise
Modified parallel system
Modified manageable