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Economics

What are the 3 basic questions that all economies must answer?
What?
How?
Who?
All the above
What are the 3 basic questions that all economies must answer?
What?
How?
Who?
All the above
Name one service from the circular flow?
Demand
Supply
What kind of economic system does the us have?
Capitalism
Communism
Name 2 areas of the Role of Government.
Keep order
Make laws
Both
Name 1 area of the Role of Consumers.
Protect consumer
Don't protect consumer
Name 2 areas of the business cycle
Supply
Demand
Both
What are 3 types of political systems?
Democracy
Monarchy
Communism
All the above
What are 2 basic principles of capitalism?
Private leadership of property
Government allows market
Both
Name 2 major economic indicators.
Population
GDP
Both
An economy where businesses are free from government control
An economy where businesses are free from government control
An economy where businesses are NOT free from government control
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