Economic Systems and PPC

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market, Traditional, Command, Combined, & Market, Communism, Capitalism, Free Market, and Macroeconomics, Microeconomics, Macroeconomics, Individual, and Traditional.

Back

Traditional, Command, Mixed, & Market

Front

Which of the following is an economic system in which economic decisions are made according to social roles & culture?
Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Traditional economy

Front

What is an economic system where only the government makes the economic decisions? Options: traditional economy, free enterprise, mixed economy, command economy

Back

command economy

Front

What are the 3 economic questions?

Back

What to produce? How To Produce? For whom to produce?

Front

Which economy is dictated by supply and demand and the buyers and sellers (consumers and producers)? Options: Market, Socialism, Mixed, Command

Back

Market

Front

Movement from inefficiency to efficiency in a PPC for producing hats and boots.

Back

From T to S

Front

Flour is an ingredient used to make kolaches, but is not used to make queso. Which of these graphs shows what happens when the availability of flour increases?

Back

Front

Opportunity cost of moving from point G to point I on the PPC for kolaches and bowls of queso.

Back

5 Kolashes

Front

Opportunity cost of producing from point F to point G on the PPC for kolaches and bowls of queso.

Back

3 Kolashes

Front

Which phrase could be used to describe a PPC shifting outward?

Back

Economic Growth