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World Economies Flashcards | StudBud
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World Economies
World Economies
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#Economics
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
Bartering is a characteristic of what type of economy?
Market
Traditional
Mixed
Command
2
How many basic questions must a country answer to determine the economic system?
5
11
3
7
3
How many types of economic systems are there?
7
2
10
4
4
Laissez Faire is...
when there is no government involvement.
a global fair held every spring.
a type of french flower.
5
A strength of Market Economies is/are...
Great deal of freedom
All are correct
Little government interference
Large variety of good and services
6
A country must ask these basic questions: What to produce, How to produce, and...
The cost to produce?
For whom to produce?
Why to produce?
7
In a command economy, who makes the economic decisions?
Private companies
The government
the military
8
Bartering is...
a form of bickering.
a cool boomerang.
a form of arguing
Trading of goods without the use of money
9
Capitalism is more aligned with what type of economic system(s)?
Command
Free Market
Traditional and Command
Command and Free Market
10
Countries that are guided by a command economy...
Cuba, Vietnam, North Korea, Former Soviet Union (USSR)
United States, Cuba, Mexico, Brazil
Cuba, England, Former Soviet Union (USSR), and Spain
France, Cuba Iceland, Sweden
11
This is an example of Market Economies
Government run
Free enterprise
Bartering
All are correct
