Economic Systems & Resources

Front

What type of economic resource is Elon Musk?

Back

Entreprenuership

Front

In which economic system is the protection of private property rights essential?

Back

Market

Front

In which economic system does the government answer all three of the big economic questions? (What to produce? How to produce? For whom to produce?)

Back

Command

Front

Which of the following best explains a mixed economy?

Back

Private ownership of the factors of production and regulation of businesses by government

Front

_____________ are a positive incentive for entrepreneurs to start a business despite the risks.

Back

Profits

Front

In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.

Back

Traditional

Front

What type of economic resource is water?

Back

Land

Front

Place where buyers and sellers meet to exchange goods and services for money

Back

Market

Front

What does government provide with the revenue it takes in from taxes?

Back

Public goods and services

Front

In which type of economy does Sam most likely live?

Back

Traditional