EBME Game 3

Question 1

Centralized government that makes all the decisions.

Accepted Answer

Command

Question 2

No official government role, ethnic traditions are the law, do what past generations have done

Accepted Answer

Traditional

Question 3

The initiative to improvegoods and services or create new ones.

Accepted Answer

Entrepreneurial Resources

Question 4

Both the market and the government take care of people’s needs

Accepted Answer

Mixed

Question 5

Strive to have the best productsHigh competition

Accepted Answer

Market

Question 6

The knowledge, efforts, andskills people bring to their work, also known as labor.

Accepted Answer

Human Resources

Question 7

Individualsdecide what, how and for whom goods and services are produced.

Accepted Answer

Market Economy

Question 8

A combination of a commandand market economy.

Accepted Answer

Mixed Economy

Question 9

Difficult for people to improveTechnology is not used

Accepted Answer

Traditional

Question 10

Equal standardof living.Government oversees the necessities

Accepted Answer

Command

Question 11

A balance of needs met by governmentand wants met in the marketplace

Accepted Answer

Mixed

Question 12

Huge rift between the wealthy &poor

Accepted Answer

Market

Question 13

Fewer choices Unavailability of items.

Accepted Answer

Command

Question 14

People believe in doing things the same as they have always been done in thepast.

Accepted Answer

Traditional Economy

Question 15

Leads to different classes in society.Citizens have to pay for governmentservices (taxes)

Accepted Answer

Mixed

Question 16

Economic system that is runby a central government or authority

Accepted Answer

Command Economy

Question 17

Specific roles for peopleSecurity in the same way

Accepted Answer

Traditional

Question 18

Goods produced and used tomake other goods and services.

Accepted Answer

Capital Resources

Question 19

The condition that existswhen wants exceed resources available to satisfy wants.

Accepted Answer

Scarcity

Question 20

No Government role, Supply and Demand in the market

Accepted Answer

Market

Question 21

“Gifts of nature” that arepresent without human intervention (ex. land)

Accepted Answer

Natural Resources

Question 22

How individuals andsocieties seek to satisfy needs and wants

Accepted Answer

Economics

Questions 22