Economic Systems

Wholesale is when

• Businesses sale to other businesses

• Businesses sale to people

• Business sale to manuafacturer

• People sale to companies.

Developing Countries have a weak economy.

• True

• False

• No

• Sometimes

Which of these is a factor of production?

• land

• retail

• wholesale

• agriculture

Businesses that focus on growing crops and raising livestock is

• Wholesale industries

• Retail industries

• Agriculture industries

• Manufacturing industries

Few limits are placed on business activities in a

• Scarcity

• Factors of production

• communist system

• Free enterprise system

A developed country will have a

• weak economy

• strong economy

• scarcity

• traditional economy

Communist System falls under what type of Economy?

• Command

• Market

• Traditional

• Free Enterprise

Land, Labor, capital and entrepreneurship is

• Wholesale industries

• agriculture industries

• Factors of production

• Economic activities

In Manufacturing industries, people make finished products from

• crops

• livestock

• raw materials

• anything

When individuals and businesses own the factors of production this is a

• command ecomony

• Traditional economy

• socialist economy

• capitalist economy