Unit 2 Test Review

Unit 2 Test Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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51 questions

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1.

FLASHCARD QUESTION

Front

An economic system is best defined as a(n) organized method of allocating scarce resources.

Back

organized method of allocating scarce resources.

2.

FLASHCARD QUESTION

Front

All of the following are considered 1 of the 3 economic questions EXCEPT: What goods and services should be produced? Who should these goods and services be produced for? How should these goods and services be produced?

Back

Why should we produce goods and services?

3.

FLASHCARD QUESTION

Front

This economy relies on the way things have always been done, custom and rituals dictate a person's role in society.

Back

traditional

4.

FLASHCARD QUESTION

Front

Economic decisions are based on the voluntary exchange of households and firms in this type of economic system.

Back

market

5.

FLASHCARD QUESTION

Front

In this type of system, the economic questions are based upon central planners in government.

Back

command

6.

FLASHCARD QUESTION

Front

Making the most of scarce resources focuses on the goal of economic

Back

efficiency

7.

FLASHCARD QUESTION

Front

If you lose your job in this country you can claim unemployment and collect money to help you until you can find another job. This is because of economic

Back

security

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