SLO #3

Front

Which of the following statements BEST describes a command economy?

Back

The government controls the economy

Front

Which of the following is NOT a benefit of the free enterprise system? Citizen can have ownership of private property, Higher quality of goods, Government regulation of production, Variety of consumer goods

Back

Government regulation of production

Front

When there's a low amount of the factors of production, there's -

Back

A low amount of goods and services will be produced

Front

Interdependence is known as _______.

Back

two or more countries depending or replying on each other for the exchange of goods or services to be able to meet their needs.

Front

What is an example of Market economy?

Back

Supply and demand; private property

Front

Hitler and the Nazis created a ____________ economy where the government controls what is produced, how its produced, and who gets the products.

Back

Command

Front

The United States is an example of a free enterprise economy.

Back

True

Front

Which of these economies DO NOT allow private ownership of business? Free-Market, Command, Mixed

Back

Command

Front

Which of the following best describes Scarcity? Not having enough resources for needs, Having unlimited resources, Thinking of what gets produced and how often it gets produced., buying whatever you need

Back

Not having enough resources for needs