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Unit One Lesson Three Economics

Unit One Lesson Three Economics

Assessment

Flashcard

Other

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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20 questions

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1.

FLASHCARD QUESTION

Front

the fairness with which an economy distributes its resources and wealth

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Back

Economic equity

2.

FLASHCARD QUESTION

Front

a society’s way of coordinating the production and consumption of goods and services

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Back

Economic System

3.

FLASHCARD QUESTION

Front

an economic system in which decisions about production and consumption are based on custom and tradition

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Back

Traditional Economy

4.

FLASHCARD QUESTION

Front

an economic system in which decisions about production and consumption are made by a powerful ruler or government

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Back

Command economy

5.

FLASHCARD QUESTION

Front

an economic system in which economic decisions are left up to individual producers and consumers

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Back

Market economy

6.

FLASHCARD QUESTION

Front

income earned when an individual sells or rents a factor of production that he or she owns

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Back

Factor payment

7.

FLASHCARD QUESTION

Front

an economic system in which both the government and individuals play important roles in production and consumption

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Back

Mixed economy

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