Economic Systems Quiz Review

Which basic type of economic system is characterized by the least amount of change?

In which basic economic system do people have the most individual freedom?

When there is not enough of a resource to satisfy everyone's wants at a zero price, it is...

Which is an example of natural resources?

On the econ continuum, most countries fall somewhere betwn a pure market & a pure command econ

Which is an example of investing in capital resources?

Which basic kind of economic system is characterized by tradition and customs?

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

Which of the following is an example of a command economy?

In which economic system is is the government most influential?

Which is NOT a service?

Which is an example of investing in human resources?

Which of the following is NOT one of the 3 basic economic systems?

Which of the following is an example of a command economy?

Which basic kind of economic system is best for raising the income of individuals?

Which economic system do individuals make decisions based on how things have always been done?

The value of the next best alternative is called

Which is NOT considered a good?

Which of the following would not be a characteristic of an entrepreneur?

A combination of any of the economic systems is called a mixed economy.