Mixed Economy Characteristics

Mixed Economy Characteristics

Assessment

Flashcard

8th Grade

Hard

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12 questions

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1.

FLASHCARD QUESTION

Front

This characteristic of a mixed economy states that the vast majority of labor, resources, and capital goods are owned by individuals rather than by the government.

Back

Private Property

2.

FLASHCARD QUESTION

Front

This characteristic of a mixed economy states that business owners, consumers and workers are free to make choices that best fit their needs and interests.

Back

Freedom of enterprise and choice

3.

FLASHCARD QUESTION

Front

This characteristic states that the Invisible Hand is the driving force of a Mixed Economy.

Back

Freedom of enterprise and choice

4.

FLASHCARD QUESTION

Front

This characteristic of a Mixed Economy describes the natural rivalry created when two businesses offer the same, or similar, goods.

Back

Competition

5.

FLASHCARD QUESTION

Front

"A market exists wherever and whenever buyers and sellers can come together." Which characteristic does this describe?

Back

A System of Markets and Prices

6.

FLASHCARD QUESTION

Front

When the government regulates business ensuring fair, safe and ethical practices it is an example of which characteristic of a Mixed Economy?

Back

Limited Government

7.

FLASHCARD QUESTION

Front

Which characteristic of a Mixed Economy is described by the inspector from the health department visiting your restaurant to ensure that your practices and the food you serve is safe?

Back

Limited Government

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