Gov & Economics Test Rewiew 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? Who will consume them?
2
Q
What are three economic systems.
A
Traditional, Command, Market.
3
Q
Which economic system allows for the most individual freedom?
A
Market
4
Q
In which economic system does the government have most control?
A
Command
5
Q
What is the economic system of most communist countries?
A
Command
6
Q
How do traditional economies exchange goods?
A
Bartering
7
Q
Which country is closest to a true Market economy?
A
United States
8
Q
The government makes All economic decisions.
A
Command
9
Q
Most democratic countries are this.
A
Market
10
Q
Cuba is close to having this type of system.
A
Command
