WorksheetsUnit 2: Economy
Total questions: 12
Worksheet time: 7mins
(a) is where people depend on supply, demand, and prices to determine the four economic questions.
Which of these questions is NOT apart of the four economic questions?
How to produce
How much to produce
What to produce
How much money to spend
Which of these characteristics are apart of the free enterprise economy? Select ALL that apply.
economic freedom
voluntary exchange
private property
profit motive
government operated
The economy where government owns some factors of production and participates in answering the four economic questions is called a __________ economy.
Free enterprise
Socialist
Communist
Command
In a communist economy, the ________ are controlled by the government.
factors of production
private properties
supply
demand
The government owns and controls all resources and means of production of a ___________ economy.
market
socialist
communist
free enterprise
In a free enterprise economy, you possess four characteristics. Which is NOT a part of the four characteristics?
economic freedom
voluntary exchange
profit motive
private property
All of them are the characteristics.
_______ are products that are tangible and can be held. The are purchased to satisfy needs and wants.
goods
consumers
services
production
__________ are intangible. These are provided by a person who exceeds at that service.
Services
Goods
Marketing techs
Supplies
The USA and Canada have a free enterprise (market) economy.
true
false
A person, company, or country that makes, grows, or supplies goods or commodities for sale is called a (a) .
A person who purchases goods and services for personal use is called a (a) .
