Question 1

What is a traditional system?

Accepted Answer

Produce what they need to survive (hunting, farming, or gathering)

Answer

Government control

Answer

Mixture of pure Command and pure market

Answer

People control based on supply and demand

Question 2

What is a command system?

Accepted Answer

Government control

Answer

People control based on supply and demand

Answer

Mixture of pure Command and pure market

Answer

Produce what they need to survive (hunting, farming, or gathering)

Question 3

What is a market system?

Accepted Answer

People control based on supply and demand

Answer

Government control

Answer

Mixture of pure command and pure market

Answer

Produce what they need to survive (hunting, farming, or gathering)

Question 4

What is a mixed system?

Accepted Answer

Mixture of pure command and pure market

Answer

people control based on supply and demand

Answer

produce what they need to survive (hunting, farming, or gathering)

Answer

government control

Question 5

What are the three economic questions?

Accepted Answer

What to produce?

How to produce?

For whom to produce?

Answer

Why to produce?

How to produce?

For whom to produce?

Answer

What the government produces?

Why to Produce?

For whom to produce?

Question 6

What is a Human Capital?

Accepted Answer

People who perform labor

Answer

resources that come from nature

Answer

items that people need to perform their jobs

Answer

people with new ideas that are willing to take risks to start a business or make a product

Question 7

What is a Capital goods?

Accepted Answer

items that people need to perform their jobs

Answer

people with new ideas that are willing to take risks to start a business or make a product

Answer

resources that comes from nature

Answer

people who perform labor

Question 8

What is a natural resource?

Accepted Answer

resources that come from nature

Answer

People who perform labor

Answer

people with new ideas that are willing to take risks to start a business or make a product

Answer

items that people need to perform their jobs

Question 9

What is a Entrepreneur?

Accepted Answer

people with new ideas that are willing to take risks to start a business or make a product

Answer

resources that come from nature

Answer

people who perform labor

Answer

items that people need to perform their jobs

Question 10

What does NAFTA stand for?

Accepted Answer

North America Free Trade Agreement

Answer

Latin America Free Trade Agreement

Answer

North America Fake Trade Agreement

Answer

North America Free Trade Assembly

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