Economic Systems: Question Preview (ID: 32040)


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The condition that exists when wants exceeds resources available to satisfy wants.
a) scarcity b) poverty c) crimes d) stealing
The type of resources that are present without human intervention.
a) human resources b) natural resources c) capital resources d) entrepreneurial resources
The type of economy that is run by a central government authority.
a) market economy b) mixed economy c) command economy d) traditional economoy
The type of economy where people believe in doing things the way they have in the past.
a) traditional b) mixed c) command d) market
In which economy does men and women have specific roles?
a) socialist b) traditional c) mixed d) gender
Which are goods produced and used to make other goods and services?
a) food b) human resources c) capital resources d) natural resources
Which economy does the U.S. have?
a) weird b) market c) all of these d) mixed
What is the study of how individuals and societies seek to satisfy needs and wants through choices?
a) ecology b) economics c) ergonomics d) economicalogicalogistical
Which is a disadvantage of a command economy?
a) fewer choices which make less competition b) taxes must be paid c) promotes illegal business practices d) no cell phones or cable to watch spongebob
Which are the four types of economic systems?
a) command, mixed, traditional, resourceful b) mixed, traditional, command, checkers c) traditional, free enterprise, command, mixed d) natural, human, capital, entrepreneurial
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