Economic And Goverment Test Review Flashcards
1
Q
What are the three economic systems
A
Market Traditional Command
2
Q
The former Soviet Union was an example of what kind of government
A
Command
3
Q
Which economic system uses bartering instead of money
A
Traditional
4
Q
Which country is closest to a true marked economy
A
United States
5
Q
Cuba is close to this type of system
A
Command
6
Q
What is standard of living
A
How well off a country’s population is
7
Q
Most Democratic countries are this
A
Market
8
Q
What are three basic questions that every economic system must answer.
A
What product/ service will be produced? How will it be made . And who will consume/ buy it?
9
Q
What are to types of Government
A
Limited Unlimited
10
Q
What are the two types of limited government
A
direct representative
