Benchmark Review Test 2- Economic Systems Flashcards

1

Protecting property rights is an important role played by...

2

What does it mean for money to be a medium of exchange?

3

An economy that makes sure that gas prices stay low is pursuing...

4

Which of the following is NOT one of the three basic economic questions?

5

An economy that seeks to meet basic needs of citizens would be focusing on

6

The method a society uses to produce and distribute goods is called a(n)

7

An economy in which the government controls factors of production and distribution is a(n)

8

Which of the following would be exchanged in the factor market of the circular flow diagram?

9

This diagram is a model of which economic system?

10

Which of the following is an example of a market failure?

Benchmark Review Test 2- Economic Systems