Home Library Explore SAT

Home Library Explore SAT

Command Economy Flashcards | StudBud

Explore/Command Economy

Command Economy

10 terms·StudBud Administration·498 plays

A better understanding on the command economy

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
What does demand mean?
Telling when you can or can not get it
Wanting something now
All of the above
The desire of purchasers
2
What is a command Economy?
The government determines the income and production
Both of these answers
An economy in which the government makes all decision
3
What does scarcity means?
Shortness in supply
Having a lot
Not having enough
None of the above
4
What are some of the characteristics on Command Economy?
Government creates a central economic plan
The government allocates all resources
Sets priorities for the production of all goods and services
All of the above
5
What is one disadvantage on a Command Economy?
All of the above
The needs of the society are often ignored
Exporting goods becomes a problem
Amount of goods produced are not balanced
6
Does supply goes with Command Economy?
False
True
7
Are all economics considered a mixed economy?
It depends
True
All of the above
False
8
What is one advantage on a Command Economy?
Could produce goods which benefit society
All of the above
Can prevent abuse of monopoly power
Can prevent mass unemployment,
9
What is a mixed economy?
None of the above
One economy only has one thing in them
Some economy's have more than one in them
An economic system combining private and public enterprise
10
The government has ALL say what goes in the Command Economy?
False
True