ECONOMIC SYSTEMS
Flashcard
•
History
•
9th Grade
•
Practice Problem
•
Hard
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19 questions
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1.
FLASHCARD QUESTION
Front
An economic system in which individuals and businesses make decisions about what to produce.
Back
Market economy
2.
FLASHCARD QUESTION
Front
What are capital resources?
Back
the machines, tools, and buildings used to produce goods
3.
FLASHCARD QUESTION
Front
Competition and profit motive are important characteristics of which type of economy?
Back
market economy
4.
FLASHCARD QUESTION
Front
What type of economic system is based on customs and beliefs?
Back
Traditional
5.
FLASHCARD QUESTION
Front
The four types of economic systems are:
Back
Traditional, Command, Mixed, & Market
6.
FLASHCARD QUESTION
Front
In this type of economy, the individual decides who to sell their products to. Options: Traditional, Mixed, Market, Command
Back
Market
7.
FLASHCARD QUESTION
Front
In my country my job is the same one that my family has done over the past 200 years.
Back
Traditional
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