Economics Test

What is the best economic system?

• There is no single best economic system for all countries.
• Communism is the best economic system for all countries.
• Socialism is the best economic system for all countries.
• Capitalism is the best economic system for all countries.

What is the economy system in the U.S

• Market System

• Socialism

• Capitalism

• Production

What are the 4 types of economies

• Traditional

• Command

• Mixed

• Market

Name 4 pillars o economic security

• Label

• Benefit

• Protection

• Equality

• ownership

3 major division of economics

• Applied

• Marcroeconomic

• Consumption

• Microeconomic

What are the four concepts of economics and economic

• Scarcity

• Supply and demand

• cost

• mangement

4 distinct examples of economic activities

• Producing

• Supplying

• Buying

• keeping

• Selling

4 types of economics

• Traditional

• Control

• Command

• Mixed

• Market

What is the best example of economic

• Supply and demand

• Selling

• Buying

• Purchase

Top 5 economics in the world?

• Japan

• United kingdom

• France

• Germany