Two services that are provided to everyone regardless of cost and income
What is public and health services?
100
__________ answers the three economic questions in an Market economy
What is firms and consumers?
100
This economy is a combination of _____ and _____.
What is command and market economy?
100
The three economic questions are _______, _______, &_______
What is For whom to produce for?, How to produce?, What to produce?
100
The best Economics teacher is __________.
Who is Mr.Wilcox
200
Two countries that have a command economy?
What is North Korea and Cuba
200
In this economy they hardly have any ________ regulation.
What is Government?
200
___________ has a mixed economy
What is the United States?
200
A economy that answers the 3 economic questions by custom & tradition is a _________.
What is a traditional economy?
200
A _________ economy is the most popular type of economy.
What is Market?
300
___________ is required for large decision making
What is bureacracy?
300
What are the three conditions, that when not met, can cause the market to fail?
What is reasonably competitive, mobility, and adequate information?
300
In mixed economy the government will have some role in regulating the market, but all other activity will be driven by _____________
What is the decisions of buyers and sellers?
300
An economy that answers the three economic questions using multiple information sources is an __________.
What is mixed economy?
300
A _______ economy can change direction almost immediatly
What is an command economy?
400
A command economy provides basic ________ but doesn't care for consumers needs.
What are needs?
400
In this market economy they determine what to produce by _________.
What is what they think will sell?
400
Even if an mixed economy is not purely a command economy, ____________ can still affect the economy's efficiency
What are Bureacratic Decisions?
400
An economy that answers the three economic questions using opinions of their consumers is an__________.
What is an Market Economy?
400
The amish people or eskimo people of alaska are an example of an _________ __________
What is an traditional economy?
500
Workers lack _________ to work hard, because they are rarely fired and people who accomplish different jobs that require different skills may still recieve a similar wage.
What is Motivation?
500
Name atleast 2 countries that have an market economy.
What is Canada, Japan, South Korea, or Germany?
500
No _____ causes consumers to have no choice
What is competition?
500
An economy that answers the three economic questions using the decision of an central authority or the government is an _____________.
What is an Command Market?
500
A ________ ________ is an economy that can set limits on the min. price suppliers can sell their goods, as well as a cap on the retail price