Economic Systems
This type of economic system is resembles both a command economy and a market economy
Mixed Economy
Opening your own business is an example of which other 5 economic concepts?
Private Ownership
If Mr. B decides that he wants to quit his job teaching and open a basket weaving company, this is an example of...
Economic Freedom
Who answers the three economic questions in a market economy?
Producers and Consumers
You go to the store. A Pepsi costs $2.
Price
This type of economic system is normally associated with communism or socialism
Command Economy
Deciding that you would rather by a pair of converse over a pair of Nike SB's is an example of what?
Consumer Sovereignty
What is this graph showing?
Economic Growth/Sustainability
Who answers the three economic questions in a command economy?
The Government
People have bought out all the Toilet Paper and no there is no more.
First Come; First Serve
Traditional Economy
Profit Motive
Whenever a government disperses resources "fairly."
Economic Equity
Who answers the three questions in a traditional economy?
Habit, ritual, and custom
Force/Authority
There never truly has been a country that was a ________ economy.
Market
Whenever the government taxes your factory because it is polluting the air too much, that is called a...
Government Regulation
The COVID-19 Stimulus bill is an example of...
Economic Security
Who answers the three economic questions in a mixed economy?
producers, consumers, and the government
Buying raffle tickets at a home football game
Lottery/Contests
What economic system is the Japan?
Mixed Economy
If Mr. B opens a shop which sells hamburgers, and Mr. Deloach opens another shop that sales hamburgers, they are partaking in what economic activity?
Competition
Striving to not waste productive resources is called...
Economic Efficiency
What are the 3 economic questions?
What to produce.
How to produce it.
For whom to produce it for.
You and your best friend decide to split a Pizza before seeing a movie
Sharing