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Economic Systems & Concepts Flashcards | StudBud
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Economic Systems & Concepts
Economic Systems & Concepts
10 terms
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StudBud Administration
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Review of basic economic concepts & terms. #7thsocialstudies
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Efforts to advertise and promote products of a business.
Scarcity
Finances
Management
Marketing
2
Which of these is NOT a 1st level economic activity?
Farming
Manufacturing
Fishing
Mining
3
Economic system where people have the most choices?
Traditional
Market
Totalitarian
Command
4
Gross _____________ Product
Dairy
Denmark
Drama
Domestic
5
The amount of products that can be made in a set time.
Demand
Shortage
Equilibrium
Supply
6
Economic system where you provide for all of your own needs (build, grow, raise & fix).
Market
Traditional
Command
Mixed
7
Term for money left over
after
paying your expenses.
Revenue
Equilibrium
Loss
Profit
8
The Organization that promotes loans to assist countries in need
ASEAN
World Bank
W.H.O.
O.P.E.C.
9
When you divide the GDP by population it is called GDP ___ ________.
per person
per mile
per capita
per country
10
The government controls all aspects of the economy. What type is it?
Traditional
Mixed
Market
Command
