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Increased government spending may result in higher taxes; decreased government spending may result in _____.
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
Rivalry between producers of a good results in better quality goods at a lower price. This is called:
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
This word describes the fact that there are unlimited wants but limited resourceds.
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
If there is high demand and low supply, what should happen to prices?
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
This economic system is based on customs and habits.
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
There are four economies. Which one is centrally owned by the government?
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
The United States has which type of economy?
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
Which one is NOT one of the basic economic questions?
communist
traditional
scarcity
competition
lower taxes
What is the product or service going to cost?
go up
market
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