Economic Systems

Too old, too young, too sick may not be protected

An increase in a nation's population makes which goal necessary?

Which of the following is not one of the roles of the government in the economy?

According to Marx, what is the inevitable end result of pure capitalism?

Employers, business owners and consumers making their own economic decisions illustrates:

Eliminating discrimination in the workplace helps fulfill which goal?

Customer satisfaction is one the advantages.

North Korea, Cuba and the former Soviet Union are examples of which economic system?

The people answer the three basic economic questions through their actions.

"The customer is always right" reflects which power?

All countries with a mixed economy practice democracy.

Drastic change can occur rapidly if the central authority decides it is needed

Social security, Medicare and workers' comp all help fulfill which goal?

Health and public services are available to everyone at little to no costs

Using factors of production wisely and not wasting resources describes which economic goal?

What is another name for a mixed economy?

Which of the following is not a characteristic of capitalism?

Needs of the nation supercede wants and needs of the consumer

A central authority answers the three basic economic questions.

South Korea, Australia and Great Britain are examples of which economic system?

Limited private property rights is a disadvantage.

No government involvement

What describes the incentive that encourages organizations to improve their material well-being

New ideas are discouraged and economic stagnation are disadvantages.

Roles are determined by existing customs.

Which of the following is not an economic system?

Constant inflation leads to which goal not being reached?

Survival of the fittest

Competition is the key to capitalism

Norway and China are examples of which type of economic system?