Factors That Influence Economic Growth

In a command economy, consumer purchasing decisions determine what will be produced.

—What might be an indication that a good, service, or resource is more scarce than another?

Decide between producing bikes & go carts, you decide on the bikes, the go-carts are the

On the economic continuum, most countries fall between pure market and pure command economies.

What, when, and how to produce are the basic economic questions that every society must answer.

Which of the following is an example of a human resource?

Most societies answer the 3 basic economic questions in different ways.

Which of the following is an example of a natural resource?

An economic system is how people decide to produce, distribute, and consume goods and services

In a command economy, only the government decides what goods and services should be produced.

Which of the following is an example of a capital resource?

A resource is scarce when there is not enough of it to meet everyone’s wants at _____________.

Which of the following is NOT an economic question that every country must answer?