Wymer - Economic Terms And Types Of Economies - SOL 11 Question Preview (ID: 46993)
Terms And Economies.
TEACHERS: click here for quick copy question ID numbers.
Economy that has a lot of individual choice.
a) command
b) free market
c) traditional
d) all of these
Economy with lack of consumer choice.
a) command
b) mixed
c) free market
d) traditional
Economy that has private ownership of property and resources.
a) command
b) traditional
c) free market
d) all of these
The most common economic system today.
a) free market
b) command
c) traditional
d) mixed
Economic system that is driven by the profit motive.
a) free market
b) command
c) traditional
d) all of these
Economy that has a centrally-planned economy.
a) mixed
b) command
c) traditional
d) free market
Economy that has individuals and businesses as the decision makers for the private sector.
a) command
b) traditional
c) mixed
d) all of these
Economy based on customs and historical precedents.
a) command
b) mixed
c) free market
d) traditional
Economy that has minimal government involvement.
a) command
b) free market
c) command
d) mixed
Economy that has central ownership of property/resources.
a) command
b) free market
c) mixed
d) traditional
Economy that has people performing the same work as parents and grandparents.
a) free market
b) mixed
c) command
d) traditional
Economy that is about consumer sovereignty.
a) command
b) free market
c) traditiional
d) all of these
Economy that has the government as the decision maker for the public sector.
a) command
b) free market
c) mixed
d) traditional
Economy that allows for a lot of competition.
a) traditional
b) command
c) all of these
d) free market
In the U.S. economy, what determines the prices of goods and services?
a) supply and demand
b) production
c) consumption
d) opportunity cost
Term that means the consumer has the power.
a) consumption
b) consumer choice
c) opportunity cost
d) consumer sovereignty
What is left after all expenses.
a) resources
b) supply
c) profit
d) incentives
When you decide between two things, the item not chosen becomes your what?
a) choice
b) supply
c) opportunity cost
d) resource
These is used to change your economic behavior.
a) price
b) scarcity
c) consumption
d) incentive
Using your resources to produce a product.
a) consumption
b) opportunity cost
c) production
d) incentives
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 46993 in the upper right hand corner or click here.
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 46993 in the upper right hand corner or click here.
TEACHERS / EDUCATORS
Log In | Sign Up / Register
Log In | Sign Up / Register