Economic systems

What is the name of the book written by Karl Marx and Frederick Engels?

No technology?

Keeps value for later use?

In the circular flow, in which market do the households provide labor to the businesses?

Capitalism?

Leads to corruption?

Government regulates production of goods? (safety)

Compares the value of goods?

Stability?

Money can be broken into smaller units?

What are the transfer payments from government to business called?

You must be able to exchange money for goods?

Occasional market failures?

What are the transfer payments from government to households called?

In the circular flow, in which market do households provide revenue to the businesses?

Competition determines price?

Prices determined by supply and demand?

Family centered?

Money must be able to be carried in a wallet of purse?

Resources owned by the government?

Which of the following is not a question that a country has to answer to determine its economic system?

Government protects people from unfair business practices?

Government intervention can hinder progress?

You can pay with a $20 bill or with four $5 bills.

How does the government get most of its money?

All resources are owned by individuals?

No fighting?

Which of the following is not a use of money?

In the circular flow, in which market do the businesses provide goods to the households?

In the circular flow, in which market do businesses provide income to households?

No competition, no profit?

Determines the value of goods?

Which of the following is not a sector in the circular flow?

Hunt for food?

Money can last and withstand wear and tear?

If money is not ______, inflation will occur.

What are the two markets in the circular flow?