Government And Economics Test Review Flashcards
1
Q
What are the three basic questions that every economic system must answer?
A
What good/service are produced? How will they be made? Who will consume them?
2
Q
What are the three economic systems?
A
Traditional Command Market
3
Q
What are the two types of government?
A
Unlimited & Limited
4
Q
Which government limits power?
A
Limited
5
Q
What are the 2 types of Limited Government?
A
Direct & Representative
6
Q
Give 2 examples of a limited government ruler.
A
President & Constitutional Monarchy
7
Q
Which government doesn’t limit power?
A
Unlimited
8
Q
Give 2 examples of an unlimited government ruler.
A
Dictators & Absolute Monarchy
