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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