WorksheetsEconomics
Total questions: 6
Worksheet time: 3mins
Which of the following statements about the use of resources is not one of the key questions in economics?
How are resources used?
Where are resources used?
For what are resources used?
For whom are resources used?
In a ______________ economic system, customs and traditions determine what and how to produce
traditional
market
command
mixed
In a ______________ economic system, the government owns resources and controls production, prices, and wages
traditional
market
command
mixed
What is a consumer?
a person who takes things
a person who purchases goods and services for personal use
a person who takes good away
the economic factors affecting the price, demand, and availability of a commodity
What is a producer?
a person who gives goods away
things people would like to have
the exchanged of goods and services without the use of money
a person, company, or country that makes grows, or supplies goods for sale
What is a free market economy?
An economy based on supply and demand with little or no government control
The international exchange of goods
An economy in which decisions are made by the government
An economy that is communist
