SW Week 28: Economic Systems

Flashcard
•
Social Studies
•
4th Grade
•
Hard
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9 questions
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1.
FLASHCARD QUESTION
Front
A/an __________ system is the way communities and governments organize resources, goods, and services.
Back
economic
2.
FLASHCARD QUESTION
Front
Agriculture is the main factor in what type of economy?
Back
traditional
3.
FLASHCARD QUESTION
Front
When the government controls economic activity, it is called a __________ economy.
Back
command
4.
FLASHCARD QUESTION
Front
A/An __________ is something that is offered to people to help them make a decision about goods and services.
Back
economic incentive
5.
FLASHCARD QUESTION
Front
An example of a negative economic incentive is a...
Back
fine
6.
FLASHCARD QUESTION
Front
Two partners independently own a business that repairs bicycles. They are an example of what kind of economy? Options: free market, capitalism, command, traditional
Back
capitalism
7.
FLASHCARD QUESTION
Front
The transportation of people in a country depends on bicycles. Two partners are told by the government to repair bicycles for a fixed price. This is an example of a __________ economy.
Back
command
8.
FLASHCARD QUESTION
Front
Someone who creates and funds a business on their own is called ___________.
Back
an entrepreneur
9.
FLASHCARD QUESTION
Front
Multiple producers wanting consumers to purchase their product creates __________ in the marketplace.
Back
competition
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