stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economic Systems SOL CE 11B Flashcards | StudBud
Explore
/
Economic Systems SOL CE 11B
Economic Systems SOL CE 11B
10 terms
·
StudBud Administration
·
1,026 plays
#Economics #Systems #SOLCE11
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What problem does every economy no mater the form have to deal with?
scarcity
production
taxes
incentives
2
What factor determines the form of economy a nation has?
population
age
government involvement
number of businesses
3
What economy has shared decision-making between government and individuals, most popular?
Command
Free Market
Mixed
Traditional
4
What form of economy do we have in the United States?
Traditional
Command
Mixed
Free Market
5
What/who is in charge of a command economy?
Businesses
Taxes
Government
Consumers
6
What economy is based on custom and historical precedent and is a very simple form of economy?
Mixed
Traditional
Free Market
Command
7
What economy lacks individual choice and is controlled and planned by the government?
Command
Traditional
Mixed
Free Market
8
Which of the following is not a question all economies must answer?
For whom are the goods and services being produced?
What goods and services will be produced?
Who will produce the goods and services?
How much will goods and services cost?
9
Put the economies in order from most to least government involvement.
Free Market, Command, Mixed
Command, Free Market, Mixed
Mixed, Command, Free Market
Command, Mixed, Free Market
10
What economy is based on profit, competition, and has little to no government involvement?
Command
Free Market
Traditional
Mixed
