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Economics 1 Flashcards | StudBud

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Economics 1

5 terms·StudBud Administration·215 plays

Basic Economic questions

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Questions 5

Answers

1
What is an example of physical trade barrier?
mountains
language
tariff
quotas
2
What are the three types of economies?
Traditional, Custom, Command
Command, Free Enterprise, Market
Traditional, Command, Market
Traditional, Mixed, Custom
3
Which is not an example of a trade barrier?
embargo
Language
quota
dictator
4
Most economies in the world are
Command
Tradional
Mixed
Market
5
Economic systems answer 3 questions
what, where, why to produce
how, where, why to produce
How, when, where to produce
What, How, for whom to produce