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SS7E4 Flashcards | StudBud

Which word would replace the letter B in the graph below?

True or False: There are 5 different types of economic systems.

SS7E4

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Answers

1
True or False: There are 5 different types of economic systems.
True
False
2
Which word would replace the letter B in the graph below?
Israel
Saudi Arabia
United States
Turkey
3
True or False: The U.S. has a traditional economic system.
False
True
4
Bartering can be defined as....
a economic system developed in Bolivia
trading without using money
trading with money
5
In a market economy, who makes the economic decisions?
government planners
farmers
consumers
custom and habit
6
he economies of Israel, Saudi Arabia, Turkey, and Israel can best be described as...?
Mixed
Command
Market
Traditional
7
Which of the following would reflect Israel’s mixed economy?
Prices and wages are solely regulated by the government
Economic decisions based on customs and beliefs of ancestors
country’s distribution of resources is based on inheritance.
combination of privately-owned business and gov regulations.
8
In a traditional economy, how are economic decisions made?
Consumers
Customs and traditions
Government leaders
A mix of consumers and government leaders
9
Which word would replace the letter A in the graph below?
United States
Saudi Arabia
Israel
Turkey
10
What are 3 economic questions every country must answer when developing its economic plan?
When to produce, how much to produce, why to produce
What to produce, why to produce, when to produce?
What to produce, how to produce, and for whom to produce?
What is cost, what resources are needed, how resources used?