Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

World Cultures > Econ & Govt Review > Flashcards

Econ & Govt Review Flashcards

1
Q

The three economic systems

A

Traditional, Command, Market

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

The former Soviet Union

A

Command

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

Economic system allows for the most individual freedom

A

Market

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

Economic system the government have the most control

A

Command

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

Economic system individuals do things based on customs and beliefs

A

Traditional

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

Economic system of most communist countries

A

Command

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

Traditional economies exchange goods

A

Bartering

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

Country is closest to a true Market economy

A

United States

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

Most democratic countries have economic system

A

Market

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

The government makes ALL economic decisions

A

Command

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

If your parents were peanut farmers, you’ll become a peanut farmer

A

Traditional

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

Most democratic countries are this

A

Market

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

The three basic questions that every economic system

A

What good/services are produced? How will they be made? Who will consume them?

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

Cuba is close to having this type of system

A

Command

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Business (ran by private citizens) determine what good/services are produced and how they will be made

A

Market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Which Economic system uses Bartering instead of money

A

Market

17
Q

Communists countries are closely related to this economic system

A

Command

18
Q

Businesses make economic decisions, but the government regulates them to make sure they’re safe/fair

A

Market

19
Q

Australia’s economic system is close to this

A

Market

20
Q

A literate person is one who can

A

Read and Write

21
Q

Literacy rate means

A

People IS and up can read/write

22
Q

The literacy rate in Europe

A

Very high

23
Q

I think it is this way because

A

Invested in human capital

24
Q

Standard in living

A

Measures how well-of the people are in the country

25
Q

Arrows that represent the relationship between literacy rate and standard of living

A

If one is high the other is too, if one is low so is the other one

26
Q

Cycle of property

A

Once a community reaches property it is stuck there for generation

27
Q

A literate person expect to have in his or her life

A

A high standard of living

28
Q

Two types of government

A

Limited and Unlimited

29
Q

Type of government limits government power and prevents it from it from taking advantage of people

A

Limited

30
Q

2 types of limited government

A

Direct and Representative

31
Q

Example of a limited government ruler

A

President, constitutional monarchy

32
Q

Type of government is not limited by any laws

A

Unlimited

33
Q

Example of an unlimited government ruler

A

Dictator, absolute monarchy

World Cultures (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions