Chapter 13 and 14 Economics- 2020 BLOCK

Front

In a command economy, decisions about what, how, and for whom to produce are determined by

Back

the government

Front

In a market economy, decisions about what, how, and for whom to produce are determined by: the government, supply and demand, cultural traditions

Back

supply and demand

Front

Which of these is found in a market economy but not in a command economy? Competition, Goods and Services, Consumers and Producers

Back

Competition

Front

In which economic system are economic decisions made by the interaction of buyers and sellers? Options: Traditional, Command, Market

Back

Market

Front

Which economic system gives consumers access to the most goods and services? Options: Traditional, Command, Market

Back

Market

Front

In a traditional economy, decisions about what, how, and for whom to produce are determined by

Back

cultural traditions

Front

Human capital includes the ____________ people use to produce goods and services.

Back

skills, knowledge, and experiences

Front

What are the three economic questions that every country's economy must answer?

Back

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

Front

What are the three economic systems? Options: Traditional, Market, and Public, Traditional, Command, and Market, Command, Market, and Government, Market, Command, and Public

Back

Traditional, Command, and Market

Front

Which economic system is characterized by total government control? Options: Traditional, Command, Market

Back

Command