Economic Concepts Exam Review

Front

How do mixed economies and free enterprise decide what to produce?

Back

supply and demand

Front

Profit Motive drives a ___________ system

Back

free enterprise

Front

Based on the chart who has a lower quality of life than country B?

Back

C

Front

Name the system that fits the following description BEST: A system of shared ownership of resources which provide a more equal distribution of goods and services.

Back

Socialist

Front

Name the system that fits the following description BEST: A system based on the culture and traditions of the past.

Back

Traditional Economy

Front

Name the system that fits the following description BEST: A system characterized by private (citizen) ownership of businesses and property (also referred to as capitalism)

Back

Free Enterprise

Front

Name the system that fits the following description BEST: A system in which the government is in complete control of the economy.

Back

Communist

Front

What is this image be an example of? Options: Stinson Way, Traditional Economy, Globalization, Supply and Demand

Back

Globalization

Front

What relationship does the abundance of natural resources in North America represent?

Back

Geography and Economy

Front

Which areas show commercial farming as their primary land use? Options: central and eastern North America, western North America, South North America

Back

central and eastern North America