Economic Systems

In which economic system are the 3 basic ?'s answered by custom, ritual, or habit?

Which is not an example of an economic good?

Which way do goods, services, and resources flow on the circular flow model?

Which type of economic system does the U.S. have?

Of the 3 basic economic systems, which does the U.S. most heavily favor?

What do all societies have in order to help them decide what to do with their limited resources

Federal laws prescribing a minimum wage are en example of which basic economic system?

Which is not one of the 3 basic economic systems?

Native American reservations are an example of which basiic type of economic system?

U.S. gov't making it illegal to sell pork productes for less than $3 per lb. is an example of:

Which is a free good?

Private ownership and voluntary exchange are key components of which basic economic system?

What factor of production do people with all of their efforts, abilities and skills fall into?

Which way does money flow on the circular flow model?

In which economic system are the 3 ?'s answered by the government?

Which factor of production do tools, equipment, machinery, and invested money fall into?

In which economic system are the 3 ?'s answered by the private sector?

The resource market would determine the market price for which of the following?

Price cielings tend to produce:

New York making is illegal to charge more than a certain amount of rent is an example of:

What is the fundamental economic problem caused by unlimited human wants and limited resources?

In which economic system are the 3 basic ?'s answered by the government?

Price floors tend to create:

The product market which decide the price for which of the following?

In which economic system are some resources owned by the private sector and some by the gov't?