Economics

Front

When buyers and sellers answer the three economic questions, it is considered a __________________ economy

Back

market

Front

When the government answers the three economic questions, it is considered a __________________ economy.

Back

command

Front

If a country is at 80% on the economic continuum, it is considered to be on the _________________ side.

Back

market

Front

If a country is at 30% on the economic continuum, it is on the ____________________ side.

Back

command

Front

Which is NOT one of the three economic questions? Options: what to produce, how to produce, for whom to produce, when to produce

Back

when to produce

Front

If the demand for a product is high with a low supply, the price will _____________________.

Back

increase

Front

if the demand for a product is low with a large supply, the price will _________________.

Back

decrease

Front

Which is NOT a trade barrier? Options: tariff, quota, embargo, nationalism

Back

nationalism

Front

A ban on trade is a/an__________________

Back

embargo

Front

In economic terms, a quota is ___________________

Back

a limit