Economic Review

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional 
• Market 
• Command 
• Centrally Planned 

What are the 3 economic questions?

• What to produce? How To Produce? For whom to produce?
• Who to produce? Why you produce? Like to produce?
• Why to produce? Tell who to produce? Things to produce?
• What to produce? How to produce? When to produce?

________ is the most basic or fundamental economic problem.

• Scarcity
• Labor
• Greed
• Capital

What type of economy do most countries in the world have?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

If you own a share of stock, you own part of...

• a venture capitalist

• a company

• a logo

• the stock market

Scarcity is when...

• there aren't enough resources for everyone

• one business tries to intimidate another

• a company is in danger of losing all of their money

• a company sells too much of its stock

What is the term describing an overall decrease in stock prices?

• A bull market

• Market capitalization

• Market diversification

• A bear market

When stocks overall are rising, the market is called?

• A bull market

• A bear market

• market capitalization

• market diversification

It is the study of the nations economy as a whole.

• Microeconomics

• National economy

• National output

• Macroeconomics