Economics module quizzz

In what kind of economy does the government have all control of business?

Select a type of economy

• Mutual

• Neutral

• Controlled

• Free market

What type of economy combines aspects of capitalism and socialism?

What is the Federal Reserve?

• The bank for the government

• An FBI organization

• A tax collecting organization

• The ancient artifact restoring organization

What is oppurtunity cost?

• A tax payed when you lose a bet in sports

• The loss of potential gain from other options when picking one option

• A tax payed when you win the lottery

• A tax payed when you win a competion

What does the term "laissez-faire" mean?

• To be loyal to your country

• To be brave and have courage

• To be relaxed and not worry

• To let something take its own course of action, work out on its own

In a Free market economy....

• There is no government intervention

• The government has less control than a mixed economy but still has control

• The government has more control than a mixed economy but less than a command economy

• The government is very involved, like a command economy but less strict

What kind of economy has no government intervention?

In all economies resources are what?

• Free

• Not unlimited

• Abundant

• Not available

Resources are limited but wants are what?

• Unlimited

• Also limited

• Not unlimoted

• extremly limited