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economic systems (OL) Flashcards | StudBud
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economic systems (OL)
economic systems (OL)
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StudBud Administration
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economic systems, production theory, merger types 2019
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
The invisible hand represents;
Bankruptcy
Private property
Competition
Government Regulation
2
Who owns and controls the factors of production in a market economy?
Private individuals
Everyone
God
Government
3
What would be a good example of a command attribute in the US economy?
Consumer protection laws
Google vs Microsoft
Federal Court System
Supply and Demand markets
4
Which type of merger would be the best description if these companies were merged?
Diagonal
Horizontal
Vertical
Conglomerate
5
Which economic system best describes this picture?
Socialism
Market capitalism
Traditional
Command
6
Socialism would be considered which type of economy?
Command
Traditional
Market
Industrial
7
Why do people start business in a market economy?
Profit Incentive
Pride in ownership
Boredom
Government order
8
Which of the following does not relate to an unincorporated business?
unlimited liability
limited liability
limited life
business and owner are same
9
a merger that is in different stage of production in the same industry.
Vertical
Conglomerate
Diagonal
Horizontal
10
Which of the following is not one of the three basic questions answered by an economic system?
How much profit?
How to Produce?
What to Produce?
Who Will Benefit?
