Econ Flashcards

1
Q

A system that relies on customs, history, and time-honored believes.

A

Traditonal Ecomony

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

a system in which a central government makes all economic decisions.

A

Command Ecomomy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country’s individual citizens and businesses.

A

Market Ecomomy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

a system that combines aspects of both capitalism and socialism.

A

Mixed Ecomony

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

the demand for a good or service

A

Scarcity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

a cashless economic system in which services and goods are traded at negotiated rates

A

Battering

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

an economic system that provides individuals the opportunity to make their own economic decisions

A

Free Enterprise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Its a Economic sytem

A

Capitalism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

a populist economic and political system based on collective, common, or public ownership of the means of production.

A

Socialism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

the willingness and ability of consumers to. purchase a given amount of a good or service at a given price.

A

Supply/Demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

studies individual, family, and market investments in various forms of human capital such as education, on-the-job training, and health.

A

Human resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What goods and services should be produced to meet consumer needs?

A

basic economic questions?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Government

A

In a command economy, who makes all of the decisions?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Mixed ecomony

A

Most countries are what type of economy?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly