Economics Review 11a thru 11c Part 2

Match it! Select the correct answer from the pull down...Good luck!

___________________: consists of earnings after all expenses have been paid.

The key factor in determining the type of economy a country has is the extent of _________ involvement.

This economy has all of the following, Private ownership of property/resources, Profit motive, Competition, Consumer sovereignty, Individual choice, Minimal government involvement.

_______________: Consumers determine through purchases what goods and services will be produced.

Which of the following is not one of the basic questions of economics?

In this economy: Individuals and businesses are owners and decision makers for the private sector. Government is the decision maker for the public sector.

_____________ are generally allowed to operate without undue interference from the government.

_________________: Individuals and businesses have the right to own real and personal property