4 factors of production
Characteristics: types of economy
Disadvantages and Advantages: types of economy
Characteristics: types of economic ideology
Disadvantage/ Advantage: types of economic ideology
100
The supplies involved in the factor of land.
What is natural resources?
100
What are 4 characteristics of market economy?
What is private property, freedom of choice, the motive of self-interest, and competition?
100
Determine what economy has the advantages of not being slowed down by lawsuits of individuals or environmental impact statements.
What is command economy?
100
Does socialism benefit the collective well being of individuals or communities?
What is communities?
100
Which economic ideology has the disadvantage that inequality limits diversity and the innovation it creates?
What is capitalism?
200
What does the value of the workforce depend on?
What is workers education, skills, and motivation?
200
Define what enforces the rules and resources from the perspective of a command economy.
What is the government?
200
Select two advantages of a mixed economy.
a. Distributes goods and serves where they are most needed.
b. Most successful businesses invest in other top-notch companies.
c. Transforms societies to conform to the government visions.
d. allocates capital to the most innovative and efficient producers.
e. Create industrial power
What is a and d?
200
What economic ideology does this represent?
What is communism?
200
In the sense of socialism, how does the system eliminate poverty?
What is they equally divide goods and services among citizens?
300
The income earned by owners is called
a. wealth
b. interest
c. wage
d. profit
What is b. interest?
300
What does a mixed economy allow the government to do?
What is to shield its people and market?
300
This political cartoon represents a disadvantage of an economy. What economy is it?
What is command economy?
300
In capitalism ______ is the driving force of _______ as individuals create ways to do tasks more efficiently.
What is competition and innovation?
300
What in communism prevents scarcity, but can also create a scarcity?
What is having a surplus of one thing, and not another?
400
An entrepreneur combines ___________ of ______ to add to supply
What is the other three factors of production?
400
What economy allows the government allows to create a central plan to shield economy?
What is mixed economy?
400
Which economy has a disadvantage for those who are at an inherent competitive disadvantage, and define what an inherent competitive disadvantage is?
What is a market economy, and what you are born into; wealth, gender, ethnicity, etc.
400
______controls credit, communication, and______
What is state and transportation?
400
What economic ideology can eliminate poverty, but relies on the corporative nature of humans to work.
What is socialism?