Economics

Front

Who answers the 3 economic questions in a command economy?

Back

the government

Front

In which economic system do the people choose what to make, how to make items, and for whom to make them?

Back

Market

Front

In which economic system does a society answer the 3 economic questions the way they have always answered them?

Back

Traditional

Front

This is the most common economic system found in the world today.

Back

Mixed

Front

Which economic system values economic freedom?

Back

Market

Front

Which economic system most values growth? Options: Command, Market, Mixed, Traditional

Back

Market

Front

What leads to a lack of efficiency in some economic systems?

Back

Those deciding what to make choose poorly, leading to surplus and shortage.

Front

Having a lack of needed resources is called _____

Back

scarcity

Front

In this economic system, a lack of government regulation might lead to dangerous products in stores.

Back

Market

Front

In order for a market economy to work well, supply and demand must be ______.

Back

balanced