The 3 Economies we have studied are:

Capitalism, Communism, Socialism

An example of a service is:

Getting your bike repaired at the store

The wealth and resources of a place

something needed to survive - food, water, shelter

Something you desire - new shoes, games, toys, etc.

studbud

Economics Basics

19 termsStudBud Administration86 plays

Imported from external platform

Flashcards19 cardsFPractice quizPHost liveL

Questions 19

Answers

1
Free Market is another way to describe:
Socialism
Communism
Capitalism
Natural Grocers
2
What is the opposite of CAPITALISM?
Lowercaseism
Socialism
Communism
Negativism
3
another word for producer is:
someone who makes things
non of the above
fruitman
someone who gets things
4
The 3 Economies we have studied are:
Capitalism, Communism, Socialism
Democrats, Republicans, Independents
Capitalism, Communism, Patriotism
Dolla Bills Ya'll
5
An example of a good is:
Bike Maintenance
Oil Change
Hair Salon
Toys
6
An example of a service is:
Buying fruit at Safeway
My DJ name: DJ Service
Getting your bike repaired at the store
Getting a toy at walmart
7
A good is:
a product or thing you can buy
a job somebody does for you
getting a hair cut
how I'm feeling today
8
The ECONOMY is:
The wealth and resources of a place
How much money is in your pocket
Oh look a chicken
9
A need is:
how you make bread
all the cookies
xbox 360
something needed to survive - food, water, shelter
10
In Capitalism, supply and demand is controlled by business and people?
False
True
11
Another way to say PRODUCE is:
Make
Wear
Consume
Produce
12
The United States is a free market/capitalistic economy.
False
True
13
competition in economics creates:
better prices for consumers
better products
all of them
more choice
14
An example of a service is:
Fast Food Restaurant
Toy Store
Bike Repair
Lumber Yard
15
A want is:
Something you desire - new shoes, games, toys, etc.
a hefalump
Something needed to survive
I want cake
16
If Supply is HIGH and Demand is LOW, prices will go UP.
False
True
17
Which of the following is an example of ECONOMY?
Going to the River
Buying and Selling
Watching TV
Being in School
18
Everyone is a CONSUMER?
True
False
19
when you buy something at the store you are a:
Producer
Competitor
Distributer
Consumer

Economics Basics Flashcards | StudBud