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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
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1
What is the primary motivation of a free market economy?
Helping the poor
Profit
Providing acess to health and education
Promoting Equality
2
Which type of economic system has the government controlling production and distribution?
Command
Traditional
Free Market
Murica
3
What is it called when a system has parts of a command and free economy?
Communism
Melting Pot
Capitalism
Mixed Economy
4
What do you call the means by which a country distributes goods and services to the people?
Taoism
Monetary System
Economic System
Capitalism
5
What is a positive of the free market system?
Increases political freedom
Encourages people to barter
Gives equal access to education
Tempts people with the dark side of the Force
6
Which economic system is based on doing what your culture has always done?
Command
Mixed
Traditional
Communism
7
Which economic system believes that the people should own the means of production?
Socialism
Traditional Economy
Capitalism
Free Market
8
Which of the following is an example of a command economy country?
Cuba
Great Britain
Mexico
United States
9
What is a positve aspect of a command economy?
Creates an equal society
Limits government power
Encourages innovation
Creates incentives to work
10
What are economic systems supposed to distribute among the people?
The pursuit of happiness
Goods and Services
Socialism
Religion
11
Which of these is a con of a command economy?
Motivated only by profit
Higher taxes
Encourages people to work hard
Creates economic inequality
12
Which of the following countries has a free market economy?
North Korea
Japan
Cuba
Vietnam
