Intro to Econ

Front

Which type of economy involves trading, and doesn't usually use money? Options: Command, Traditional, Market, Mixed

Back

Traditional

Front

Which type of economy does the USA have? Options: Socialist, Mostly Mixed, Mostly Command, Mostly Traditional

Back

Mostly Mixed

Front

Which type of economy lets the private businesses make all of the decisions? Options: Market, Mixed, Command, Traditional

Back

Market

Front

Which type of economy lets the government & private businesses work together in order to make decisions?

Back

Mixed

Front

When Russia was the Soviet Union, they had a Command economy because of their _____________ government.

Back

Communist

Front

If the government makes me produce 70 T-Shirts, what economic system is this?

Back

Command

Front

What is the major difference between scarcity and a shortage?

Back

Shortages are temporary and scarcity always exist.

Front

A person that takes a risk by starting a new business.

Back

entreprenuer

Front

Which of following is a good? Options: You get your hair cut., You hire someone to cut your grass., You take a trip on the Grey Hound Bus to New York., You buy a donut at Krispy Kreme.

Back

You buy a donut at Krispy Kreme.

Front

Which of the following is a service: You get a hair cut., Your mother sells cookies at the church bake sale., You visit your doctor and buy a set of false teeth., You go shopping at Walmart and purchase a new game system.

Back

You get a hair cut.