Economics Final Exam Reveiw

Economics Final Exam Reveiw

Assessment

Flashcard

Specialty

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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23 questions

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1.

FLASHCARD QUESTION

Front

In this type of economy, the people decide the supply, demand, and price.

Back

Market

2.

FLASHCARD QUESTION

Front

Which type of economy has central ownership, the government, and lack of individual choice?

Back

Command

3.

FLASHCARD QUESTION

Front

This means that the government should not interfere in the marketplace.

Back

Laissez Faire

4.

FLASHCARD QUESTION

Front

Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively.

Back

specialization

5.

FLASHCARD QUESTION

Front

When something given up for something else is called?

Back

Opportunity Cost

6.

FLASHCARD QUESTION

Front

House: Goods or Service?

Back

Goods

7.

FLASHCARD QUESTION

Front

Doctor: Goods or Service?

Back

Service

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