EBME Obj. 2.01 Economic Systems And Resources Question Preview (ID: 12226)
Types Of Economic Resources And Systems.
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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?
a) Competition
b) Biology
c) Economics
d) Psychology
Which is an example of a natural resource?
a) Water
b) Construction Worker
c) Hammer
d) Computer
Which is an example of a capital resource?
a) Oil
b) Trees
c) Doctors
d) Buildings
Which is an example of a human resource?
a) Factory Worker
b) Coal
c) Factory
d) Computer
In which type of economy do businesses and consumers make all of the decisions?
a) Traditional Economy
b) Market (Free Enterprise) Economy
c) Command Economy
d) Mixed Economy
In which type of economy do customs and what has always been done determine the decisions that are made?
a) Traditional Economy
b) Market (Free Enterprise) Economy
c) Command Economy
d) Mixed Economy
In which type of economy do both the market and the government make decisions about the economy?
a) Traditional Economy
b) Market (Free Enterprise) Economy
c) Command Economy
d) Mixed Economy
In which type of economy does the goverment make all of the economic decisions?
a) Traditional Economy
b) Market (Free Enterprise) Economy
c) Command Economy
d) Mixed Economy
In which type of economy are resources given to the one who pays the given price set by the market demands?
a) Traditional Economy
b) Market (Free Enterprise) Economy
c) Command Economy
d) Mixed Economy
In which type of economy does the government dictate which resources will be used when and where?
a) Traditional Economy
b) Market (Free Enterprise) Economy
c) Command Economy
d) Mixed Economy
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