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Economics Flashcards | StudBud
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Economics
Economics
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Answers
1
Making products at the "Make as much as you want" table was an example of a
Mixed Economy
Traditional Economy
Market Economy
Command Economy
2
Poor third world countries usually have which type of economy
command
mixed
traditional
market
3
The rise and fall of a products production and cost based on customer desire
interdependence
trade
budget
supply and demand
4
When people make and do things the way they have always been done
command economy
mixed economy
market economy
traditional economy
5
Cuba is a modern day example of this economy
Market
Traditional
Mixed
Command
6
A plan for how to spend and save money
budget
income
savings
banking
7
Feeling the effects of another countries hardships in your own country is an example of
trade
interdependence
specialization
division of labor
8
basic things needed to survive
income
wants
savings
needs
9
Bracelet making at the "Do as your told" table was an example of which economy?
Market economy
Command Economy
Mixed Economy
Traditional Economy
10
Money set aside over a period of time.
income
savings
budget
economy
11
Sorting crayons in an assembly line fashion was an example of interdependence
team work
trade
interdependence
division of labor
12
When tasks are divided into smaller jobs to make production more efficient
wants
trade
division of labor
needs
13
This type of economy provides for little economic growth of its citizens
traditional
market
command
mixed
14
the citizens have the freedom to decide on products,prices and wages
globaleconomy
market economy
traditional economy
command economy
15
The government decides all aspects of the economy
command economy
mixed economy
market economy
traditional economy
16
Bracelet making at the "This is how we've always done it" table was an example of a
market economy
traditional economy
mixed economy
command economy
17
The United States is an example of this type of economy
market
command
poor
traditional
18
Performing a specific job and becoming good at that job
division of labor
training
employment
specialization
19
When countries rely on each others economic systems
division of labor
specialization
interdependence
trade
20
Items that we wish for
savings
wants
needs
income