Economics Review

Economics Review

Assessment

Flashcard

Other

10th Grade

Practice Problem

Hard

Created by

Terra Brown

Used 3+ times

FREE Resource

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23 questions

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1.

FLASHCARD QUESTION

Front

What is one way that people benefit from an economy that moves away from a command economy and more toward a market economy?

Back

Individual Freedom for everyone

2.

FLASHCARD QUESTION

Front

What is a catalyst in a free enterprise system?

Back

Entrepreneur

3.

FLASHCARD QUESTION

Front

How could demand-side policies increase people's dependence on government?

Back

They will lose their interest in their own skills and lose their initiative.

4.

FLASHCARD QUESTION

Front

Fixed cost

Back

Costs of production that do not change when output changes.

5.

FLASHCARD QUESTION

Front

Total cost

Back

Sum of variable cost plus fixed cost; all costs associated with production.

6.

FLASHCARD QUESTION

Front

Variable cost

Back

Production cost that varies as output changes; labor, energy, raw materials.

7.

FLASHCARD QUESTION

Front

Stockholders

Back

People who own a share or shares of stock in a corporation; same as shareholders.

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