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BU20 - 2.0 Types of Economies Flashcards | StudBud

Explore/BU20 - 2.0 Types of Economies

BU20 - 2.0 Types of Economies

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Questions 7

Answers

1
What is scarcity?
the jobs your parents had
The limited supply on goods
traditional economies
The types of factories in your area
2
What is one other name for market economy?
quota
command
supermarket economy
Free market
3
How many economic systems are there?
3
9+10=21{0_0}
16
4
4
Customs and habits are most important to which type of economy?
traditional
command
market
mixed
5
What types of activities are often a part of a traditional economy?
seeking NEW markets
Herding livestock
Farming,hunting
Building new factories
6
In a command economy, who usually owns the farms and factories?
farm and factory owners
The govenment
individuals
tinker bell
7
What is a traditional economy?
Customs and habits of the past
businesses and consumers make the decisions
government rules everything
To determine how to use its limited resources