Marketing II Chapter 3 Assessment

Answers to the 3 economic questions are often based on cultural or religious ideals in this economic system.

The technocal term for all things used in producing goods and services.

The skills of people who are willing to risk their time and money to run a business.

Ivan Drago faught Rocky in which Rocky movie

How many Factors of Production are there

This type of economic system, the government controls the factors of production and makes all decisions about their use.

This economic system is representative of all economies in the world today.

Scarcity forces nations to........

More governtment involvement in economy and social services is a charactaristic of

The difference between wants and needs and available resources

All the people who work in the economy.

The total $ value of goods and services produced by a nation, including the goods and services produced abroad by the US

Which one is NOT a Factor of Production

Which one IS NOT a goal of a healthy economy.

Increasing their workforce and the responsibilities of its citizens is a way businesses can increase productivity.

The money needed to start and operate a business.

In this system all who are able to work are assigned jobs. As well housing and schooling are decided by the government.

Which one is NOT a specific type of economy

The way in which a nation makes economic choices

Two key concepts related to increasing productivity are

Everything on earth that is in its natural state.

A double digit inflation rate is beneficial to an economy.

The ideal inflation rate that shows an economy is stable is

A Charataristic of Capitalism is

The 3 types of governments discussed in class are

Which one is NOT one of the basic economic question a Nation must answer.

In this type of economic system there is no government involvement in econimic decisions.