
FLASHCARDIZZ Economics Final Exam Prep #1
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1.
FLASHCARD QUESTION
Front
The economic system that is indicative of Capitalism is known as a:
Back
Free Market/Enterprise
2.
FLASHCARD QUESTION
Front
The economic system that is found in a Communistic political system is a:
Back
Command Economy
3.
FLASHCARD QUESTION
Front
Which of the following is NOT a factor of production?
a. Land,
b. Labor,
c. Capital,
d. Resources
Back
Resources
4.
FLASHCARD QUESTION
Front
The economic system that is found in a Socialistic political system is a:
Back
Mixed Economy
5.
FLASHCARD QUESTION
Front
Karl Marx is the author of:
Back
The Communist Manifesto
6.
FLASHCARD QUESTION
Front
Which of the following does NOT characterize a command economy? a. The presence of competition, b. The economic questions are answered by the government, c. Very little economic choice, d. No private ownership
Back
The presence of competition
7.
FLASHCARD QUESTION
Front
Who is considered to be “The Father of Communism”?
Back
Karl Marx
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