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Duplicate of Economic System Flashcards | StudBud
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Duplicate of Economic System
Duplicate of Economic System
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StudBud Administration
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Economic systems bruh
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
Businesses sell goods and services to households in...
The resource market
The product market
2
The free market produces
What the aliens want us to buy
What Obama wants us to buy
What the government wants us to buy
What consumers want to buy
3
Most economic systems in the world are...
Completely free market
Completely government controlled
A mix of free market economy and government intervention
4
What is an economic system that is controlled by the government in every way?
Command Economy
Free Market Economy
Capitalist Economy
5
The unintended social benefits resulting from individual action is...
Invisible cat
Invisible Trump
Invisible hand
Invisible foot
6
Households pay for goods and services in...
The product market
The resource market
7
Which of the following is not a factor of production...
Labor
Land
Capital
Time
8
What key questions need to be considered in an economic system?
Who gets what is produced?
How will it be produced?
When it is produced?
What will be produced?
9
What is the theory of communism?
Abolishment of private property
Combination of private property and public ownership
Economics independant of the government
