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Chapter 11 Entrepreneurship and the Economy

Chapter 11 Entrepreneurship and the Economy

Assessment

Flashcard

Business

11th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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27 questions

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1.

FLASHCARD QUESTION

Front

In which type of economic system do suppliers and consumers control production and price of goods?

Back

market

2.

FLASHCARD QUESTION

Front

The United States has which type of economic system?

Back

market

3.

FLASHCARD QUESTION

Front

Economics is

Back

a social science, the study of how people satisfy their wants and needs, the study of how economies work

4.

FLASHCARD QUESTION

Front

In economic terms, scarcity occurs when: not enough money is available for people to buy things, natural resources have been used up, there is not enough of a good or service to meet the demand for it, too much money is chasing too many goods or services

Back

there is not enough of a good or service to meet the demand for it

5.

FLASHCARD QUESTION

Front

In a command economy, the government controls ownership, property, prices, and all of the above.

Back

all of the above

6.

FLASHCARD QUESTION

Front

The cash and goods a business owns are its

Back

capital

7.

FLASHCARD QUESTION

Front

A country’s economic system is also called its

Back

economy

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