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Unit 2 Economics Review #1 Flashcards | StudBud
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Unit 2 Economics Review #1
Unit 2 Economics Review #1
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North Carolina CTE Exploring Business Marketing and Entrepreneurship. Unit 2
Flashcards
26 cards
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Practice quiz
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Questions
26
Answers
1
In this type of Economy the government dictates what is produced.
command
traditional
market
mixed
2
The point at which the supply and demand curve meet.
economics
supply and demand graph
equilibrium price
market
3
Amish, Indian Tribes, and Vanuatu are all of examples of which type of economy?
traditional
market
command
mixed
4
Study of seeking to satisfy needs/wants through incentives, choices, and useof scarce resources
demand
supply
scarcity
economics
5
How much of a good or service is available at different prices?
Economics
Supply
Scarcity
Demand
6
The physical location where stocks are listed, bought, and sold.
members exchange
stock market
stock exchange
farmers market
7
When stocks are going up it is considered a...
Bear Market
Dead Market
Alive Market
Bull Market
8
When stocks are going down it is considered a...
bear market
dead market
alive market
bull market
9
The advantage in a command economy
equal standard of living
taxes must be paid
private economic freedom
fewer choices in the market place
10
The Federal Reserve is also known as...
The Central Bank of the United States
The Stock Market
The Holder of Gold
Supplier
11
The desire to own something and the ability to pay for it.
scarcity
demand
Economics
supply
12
A disadvantage of mixed economy is;
private economic freedom
equal standard of living
taxes must be paid
fewer choices in the market
13
A disadvantage of a command Economy is...
fewer choices in the market place
taxes must be paid
private economic freedom
equal standard of living
14
This type of economy self-regualtes.
market
traditional
mixed
command
15
This type of economy is primarily found in rural, undeveloped countries.
command
market
traditional
mixed
16
In this type of economy the government takes care of peoples needs and market takes of wants.
command
market
mixed
traditional
17
The Federal Reserves main job it to...
make sure you eat your veggies
monitor debit card transactions
regulate the money supply
protect the American people
18
An advantage of a mixed economy is:
taxes must be paid
equal standard of living
fewer choices in the market
private economic freedom
19
Where shares of stock and other securities are bought and sold.
security market
stock market
stock exchange
farmers market
20
Which of the following is not one of the US stock exchanges?
NASDAQ
NASEFCP
NYSE
American Stock Exchange
21
Mixed economy is a mix between market and what other type of economy?
traditional
command
mixed
market
22
There is not a true version of which type of economy.
traditional
command
market
mixed
23
Cuba, North Korea, and Sweden are all examples of this type of economy.
market
mixed
traditional
command
24
This is a visual representation of supply and demand.
supply and demand graph
market economy
economics
equilibrium
25
In this type of economy there are two types: Strong and Moderate.
market
traditional
mixed
command
26
In this type of Economy decisions are based on customs and centered around the family.
market
mixed
command
traditional
