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World Cultures > Govt & Econ Test Review > Flashcards

Govt & Econ 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? Who will consume them?

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2
Q

What are the three economic systems?

A

Traditional, command, market

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3
Q

The former Soviet Union was an example of what kind of economic system?

A

Command

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World Cultures (2 decks)

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