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Economic Systems & Activities Flashcards | StudBud
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Economic Systems & Activities
Economic Systems & Activities
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Questions
19
Answers
1
In a Free Market, what type of governmental involvement is present?
A lot
Moderate
None
Little
2
What is this a picture of?
Economic Spectrum
Linear Spectrum
Economical Spear
Arrow Spectrum
3
Which economic activity does this picture represent?
Secondary
Tertiary
Primary
Quarternary
4
This economic system is based on hunter-gather or subsistence agriculture:
Command
Capitalism
Socialism
Traditional
5
What would NOT be an example of a good?
Car
Mechanic
Deodorant
Cellphone
6
Which is NOT a factor when describing economics?
Acknowledgment
Consumption
Distribution
Production
7
Another term for command economy is:
Communism
Free Market
Controlled
Socialism
8
What was one of the early American colonists' first economic dispute?
George Washington had the best, most expensive powdered wigs
The Natives drunk all the tea
Queen Marie Antoinette bought new boat hats
No taxation without representation
9
This is an example of a...
Capital good
Service
A really expensive shoe
Good
10
Barter or swapping relates to...
Socialism
Traditional
Command
Capitalism
11
This image shows the circular flow of....
a product
money
uh...I have no idea :(
debt
12
What is a service?
Funeral arrangement
Serving in the military
Attending church
Something that someone does for you
13
Producing only enough for you and your family...essential for your livelihood:
Cottage industry
Commercial agriculture
Commercial industry
Subsistence agriculture
14
This is an example of:
Secondary
Quarternary
Tertiary
Primary
15
Which economic activity would this picture represent?
Quaternary
Secondary
Tertiary
Primary
16
Where would the U.S. fall on this spectrum?
No where on this spectrum
Capitalism
Socialism
In the middle
17
Sector includes farming, hunting or grazing
Secondary
Tertiary
Primary
Quarternary
18
Sector that is associated with research, education, libraries, etc
Tertiary
Primary
Secondary
Quarternary
19
Which term means to dominate by excluding others and controlling an entire market?
Monopoly
Commodity
Bully
Free Enterprise
