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Economics Systems Flashcards | StudBud
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Economics Systems
Economics Systems
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StudBud Administration
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10 questions about economics covering from the systems to the policies.
Flashcards
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Questions
10
Answers
1
The primary motivating factor in a market economy is...
market stability
profit
business growth
quality goods
2
Which question does NOT fit into the questions economic systems answer?
where to sell it
what to produce
how to produce it
who to produce it for
3
What type of economy does the USA have?
Mixed
Traditional
Market
Command
4
There is no pure ___________ economic system.
Mixed
Traditional
Market
Communism
5
What type of economy does the government control everything?
Traditional Economy
Market Economy
Command economy
Mixed Economy
6
In a command economy the decision on whom to sell the goods to is decided by who?
The producers
The government
Federal reserve
Consumers
7
What is another name for an entrepreneur?
Investor
Consumer
Business Owner
Financial Advisor
8
Economics is the study of how to use limited resources to satisfy unlimited what?
money
supply
decisions
wants & needs
9
This image portrays which economic system?
Market
Socialism
Traditional
Communism
10
How many basic economic questions must every economic system answer?
3
9
7
2
