Gov. And Economics Test Review Flashcards
1
Q
What are the three basic questions that every economic system must answer.
A
What goods/services are produced? How will they be made? How they will consume them.
2
Q
What are three economic systems?
A
Market, traditional, and command
3
Q
What is the standard of living?
A
How well off the populations
4
Q
What does literacy rate mean?
A
The percentage of the population that can read and write over 15
5
Q
What can a literacy rate person do?
A
They can ready & write
6
Q
What are examples of an unlimited ruler
A
Dictator, absolute, and monarchy
7
Q
What are two types of government?
A
Limited, and unlimited
8
Q
What can a literacy rate person expect in him/ her life?
A
A high standard of living
