Economic Flow

Which of the following do households provide businesses?

• Labor
• Taxes
• Goods and Services
• Final Products

What is an example of a service the government might provide households?

• Post Office
• Dry Cleaner
• Food Delivery
• None of these

What are the four types of economies?

• Command, Demand, Capitalist, Communism

• Traditional, Command, Market, Mixed

• Mixed, Market, Traditional, Primary

• None of the above

In a command economy, the government

• encourages entrepreneurs.

• controls basic industries.

• allows business many freedoms.

• protects private property.

A _____________ economy is completely determined and controlled by a central planning authority or the government

• traditional

• planned/command

• mixed

• free market

A ______________ economy is guided primarily by custom, habit, and ritual.

• traditional

• planned/command

• mixed

• free market

A _____________ economy is driven entirely by voluntary exchange in markets.

• traditional

• planned/command

• mixed

• free market

What do businesses provide households?

• Taxes
• Goods and Services
• Capital
• Resouces

When individuals work for businesses, what resource are they providing?

• Capital

• Labor

• Loans

• Raw materials

A social and political philosophy based on the belief that democratic means should be used to distribute wealth throughout society is called ___________________.

• communism

• collectivism

• socialism

• authoritarianism