EBME Obj. 2.01 Economic Systems And Resources

Test Description: Types of economic resources and systems

Instructions: Answer all questions to get your test result.

1) What is the study of how individuals and societies seek to satisfy needs and wants through incentives, choices, and allocation of scarce resources referred to as?

2) Which is an example of a natural resource?

3) Which is an example of a capital resource?

4) Which is an example of a human resource?

5) In which type of economy do businesses and consumers make all of the decisions?

6) In which type of economy do customs and what has always been done determine the decisions that are made?

7) In which type of economy do both the market and the government make decisions about the economy?

8) In which type of economy does the goverment make all of the economic decisions?

9) In which type of economy are resources given to the one who pays the given price set by the market demands?

10) In which type of economy does the government dictate which resources will be used when and where?


*select an answer for all questions

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