Show:
Economic Thinkers
Characteristics of Economic Systems
Free-Enterprise
Socio/Econ Goals
100
This economist wrote “Wealth of Nations”.
Who is Adam Smith?
100
One characteristic of this Economy is Individual Freedom.
What is a market economy?
100
This characteristic allows people to own and control their possessions.
What is private property rights?
100
This socioeconomic goal protects the consumer when new cars need too many repairs.
What is Economic Equity?
200
This Economist Believed In A Mixed Economy.
Who is John Maynard Keynes?
200
This economy is able to make quick changes in short time.
What is a command economy?
200
This allows buyers and sellers to willingly trade.
What is a voluntary exchange?
200
This ensures that people can have more goods and services as the population grows.
What is economic growth?
300
This Economist Believes In No Government Interference In The Economy.
Who is Friedrich Hayek?
300
Everyone Knows Which Role To Play In This Economy
What is a traditional economy?
300
This characteristic allows people to choose their own jobs.
What is economic freedom?
300
Social security, workers’ comp and Medicare are some ways Americans have this.
What is economic security?
400
This Economist Believed That If The Government Stayed Out Of The Economy It Will Prosper.
Who is Adam Smith?
400
Health And Public Services Available At Little To No Cost Is One Advantage Of This Economy.
What is a command economy?
400
This is when private citizens own the factors of production
What is capitalism?
400
These serve as benchmarks for the economy.
What are social and economic goals?
500
This Economist Wanted To Abolish The Licensing Of Doctors.
Who is Milton Freidman?
500
This Economy Has A Lower Standard Of Living Than The Other Economies.
What is a traditional economy?
500
This is when competition is allowed to flourish with minimum government involvement.
What is free-enterprise?
500
The government provides as many jobs as possible so that the economy can reach this goal.
What is full employment?