What type of Government is in control in a traditional,command
and market economy?
Who controls the resources?
Distribution of goods and services?
Controls productions?
What are the negative affects on society?
Benefits to society for each form of economy?
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Term1/22
What were Karl Marx's beliefs known as
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His followers were called Marxist's, so his belief system would
be called Marxism.
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What happened at the end of the most recent ice age
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Sea levels rose over 300 feet.
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Which would be least helpful in reducing indoor pollution
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Increasing the house temperature
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When factors of production perform only tasks they can do more efficiently than others
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Specialization is when factors of production perform only tasks
they can do more efficiently than others. This is argued to
maximize efficiency, but also increases interdependence among
aspects of production.
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Who believed that the government should influence the economy
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john maynard keynes
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Which ofthe following is a reason the human population is growing exponentially
The government support entrepreneurs because they are valuable
to the economy.
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Do hurricanes gain strength by tropical cyclones
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No. A hurricane is a tropical cyclone.
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When will a cost benefit analysis be done
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Definition1/22
when will a cost benefit analysis be done
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societies make decisions about how to produce certain goods by
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considering whether companies or the government should make the goods.
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what role do entrepreneurs play in the economic decisions a society makes
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They organize resources to try to meet a society's wants and needs.
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What is a major similarity between economic wants and economic needs
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People try to fulfill both with limited resources.
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which statement best describes the economic concept of scarcity
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People have unlimited wants and limited resources to fulfill them.
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which person is an example of an entrepreneur
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An inventor who creates a new computer company
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Which situation would reduce the scarcity of a product
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A foreign country begins exporting the product in high volume.
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which option is an example of capital as a factor of production
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An industrial assembly line
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Which description is the best example of human capital
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A doctor with expertise in medicine
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What is the result of having limited resources in an economy
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People make economic choices about what to do with their
resources.
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Which situation best describes an opportunity cost
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A store that buys a shipment of computers can't afford to buy any new phones
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Governments and businesses use incentives to
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convince people to make certain economic decisions.
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Which statement best illustrates Crusoe's reasons for teaching Friday about his religion
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He believes that his religion is superior to Friday's religion.----APEX
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Cards in this guide (22)
Traditional economy coutries
What type of Government is in control in a traditional,command
and market economy?
Who controls the resources?
Distribution of goods and services?
Controls productions?
What are the negative affects on society?
Benefits to society for each form of economy?
What were Karl Marx's beliefs known as
His followers were called Marxist's, so his belief system would
be called Marxism.
What happened at the end of the most recent ice age
Sea levels rose over 300 feet.
Which would be least helpful in reducing indoor pollution
Increasing the house temperature
When factors of production perform only tasks they can do more efficiently than others
Specialization is when factors of production perform only tasks
they can do more efficiently than others. This is argued to
maximize efficiency, but also increases interdependence among
aspects of production.
Who believed that the government should influence the economy
john maynard keynes
Which ofthe following is a reason the human population is growing exponentially