FINAL EXAM IN CONTEMPORARY WORLD

It is an organized way in which a country allocates resources and distributes goods and services across the nation.

• Economy

• Economist

• Economic System

• Barter System

It is a traditional economic system where people traded goods.

• Economy

• Economist

• Economic System

• Barter System

It includes the combination of several entities, institutions, agencies, decision-making processes and patterns of consumption

• Economy

• Economist

• Economic System

• Barter System

It is a type of economic system based on the culture or customs of a particular group.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

It is a type of economic system where the government answers the questions of production and other economic questions.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

It is a type of economic system where there is no regulation coming from the government and individuals have control of everything.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

It is a type of economic system which is determined partly by the purchasing power of the people and partly by government preference.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

All of the following are considered as the three economic problems except:

• What to produce

• How to produce

• For whom to produce

• How much to produce

It is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.

• Currency Exchange

• Deposit

• Financial Institution

• Loan

It refers to the money an investor transfers into a savings or checking account held at a bank or credit union.

• Currency Exchange

• Deposit

• Financial Institution

• Loan