WorksheetsReview For Econ VOCAB
Total questions: 15
Worksheet time: 8mins
Which questions do all societies ask themselves? (Select all that apply.)
What will be produced?
How can we get rid of scarcity?
How will goods and services be produced?
Who will consume goods and services?
Which of the following are goods (all that apply)
Cheese
Pizza
Hair cuts
Coaching
Market Economy is mainly about
money
choice
profit
outcomes
Who is in charge in a command economy?
The government
Producers
Consumers
Big Business
What kind of economic system do we use in the united states?
command
circle flow
market
free
How to produce it?
For whom to produce?
These are:
Helps make decisions about your income; Saving- spending plan.
Budget
Income
Networking
Bank Loan
When purchasing a video game you would use what method of payment?
Cash
Credit Card
Bank Loan
Coins
For markets to work efficiently, _________________ need to be well defined and enforced by law, otherwise trade would break down.
competition
private property rights
voluntary exchange
consumer soverignty
