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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
8 terms
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StudBud Administration
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Economic Systems of Southwest Asia
Flashcards
8 cards
F
Practice quiz
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Host live
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Questions
8
Answers
1
Moves to the left with increase of government influence
Traditional
Command
Mixed
Market
2
A company comes out with a new pair of shoes; what happens to the price of the older shoes?
price of older shoe lowers
price of older shoes rises
3
Most modern economies in the world today
Market
Command
Traditional
Mixed
4
A company decides to make more video games but the # sold stays the same, what happens to price
Price rises
Price lowers
5
No government influence on supply and demand
Command
Market
Mixed
Traditional
6
A storm destroys oranges growing in Florida, but demand for orange juice stays the same, price
goes down
goes up
7
Government determines production of goods
Market
Traditional
Mixed
Command
8
Customary roles and production of goods
Market
Traditional
Mixed
Command
