Types of economies
Quiz by Peter Soehner
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9 questions
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- Q1In this type of economic system the government makes all decisionsMarketMixedTraditionalCommand45s
- Q2In this type economic system, the means of production have not changed over timemarketmixedcommandtraditional45s
- Q3In this type of economy the law of supply and demand dictate the price of goodsCommandTraditionalmixedMarket45s
- Q4This is what is given up when making a decision?sleeptaxesopportunity costcrazy mike45s
- Q5In this type of economic system the government and the market make decisionsTraditionalMarketMixedCommand45s
- Q6What is a producersomeone who buysa plantSomeone that makes somethingMs Morris45s
- Q7Which of these is NOT one of the 3 economic questionsWhat to produce?Who to produce for?How much should it cost?How to produce?45s
- Q8The United States has a market economy but the government has regulations, what type of economic system is this?tradtionalcommandmixed marketmarket45s
- Q9What idea is associated with the lack of resources to meet peoples wants/needs?purple rainscarcitydemandsupply45s