KIRIAN Economics Final Exam Review
Flashcard
•
Social Studies
•
9th - 12th Grade
•
Hard
Wayground Content
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84 questions
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1.
FLASHCARD QUESTION
Front
The three main types of economic systems are: Command, Mixed, & Market
Back
Command, Mixed, & Market
2.
FLASHCARD QUESTION
Front
A Command economy is when a central authority, like the government, is in control.
Back
True
3.
FLASHCARD QUESTION
Front
What are the 3 economic questions?
Back
What to produce? How To Produce? For whom to produce?
4.
FLASHCARD QUESTION
Front
An advantage to both a Mixed and Market economy is...
Back
A lot of individual freedom
5.
FLASHCARD QUESTION
Front
A Mixed economy is a combination of characteristics from Command and Market economies. True or False?
Back
True
6.
FLASHCARD QUESTION
Front
Through this market, businesses buy resources/FOP they need in order to produce goods and services.
Back
Factor/Resource market
7.
FLASHCARD QUESTION
Front
What do Households provide to/through the Resource market?
Back
land, labor, capital, and entrepreneurship (the FOP/resources)
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