stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
EC017 Objective A Quiz Flashcards | StudBud
Explore
/
EC017 Objective A Quiz
EC017 Objective A Quiz
8 terms
·
StudBud Administration
·
82 plays
Imported from external platform
Flashcards
8 cards
F
Practice quiz
P
Host live
L
Questions
8
Answers
1
Which of the following types of economic systems adopts the fewest new ideas or improvements:
Traditional
Socialst Command
Market
Command
2
The most common medium of exchange in modern economic systems is
credit
barter
money
captial
3
Individ's & businesses own the means of production/distribution with limited gov't regulation
communist
traditional
socialist
market
4
What type of economic system is used in the United States?
Market
Communist command
Sociaist command
Traditional
5
Which of the following items is found in all economic systems?
dollars
subsistence
participants
technology
6
Gov't owns the basic means of production, but there is some private ownership of businesses
communism
entrepreneurship
socialism
capitalism
7
One of the reasons that a country needs an economic system is because it
has immigrants from several countries
has a limited supply of resources
has limited wants and needs
is independent of other nations
8
Gov't does not allow private ownership of the means of production and distribution in a ?
socialist command economic system
market economic system
communist command
traditional economic system
