Econ Unit 1

Front

Which of the following types of economy has the least strict regulations? Market, Command, Mixed, Traditional

Back

Market

Front

What are materials needed for labor to work? Options: Capital, Land, Labor, Entrepreneurs

Back

Capital

Front

What shows the cost of producing 1 good instead of another?

Back

Production Possibility Curves

Front

A liquid asset is one where the asset is easily ________.

Back

converted to the medium of exchange

Front

Marcella puts money into a savings account. What function of money does this illustrate?

Back

store of value

Front

Which of the following economic systems is Communism? Command, Market, Traditional, Mixed

Back

Command

Front

Voluntary exchange is associated with what term?

Back

Economic Freedom

Front

Supply and Demand is associated with what term?

Back

Free Market

Front

What type of economic system is Capitalism?

Back

Market

Front

Which of the following types of economy combines aspects of multiple different types? Mixed, Traditional, Command, Market

Back

Mixed