What two factors do all three economic questions concern?
Unit 2 Practice Flashcard

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Social Studies
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Goods and Services
2.
FLASHCARD QUESTION
Front
What is a Safety Net?
Back
A set of Government programs that protect people who face unfavorable economic conditions.
3.
FLASHCARD QUESTION
Front
The Industrial Revolution led to immense economic growth
Back
True
4.
FLASHCARD QUESTION
Front
What is a Market?
Back
Any arrangement that allows buyers and sellers to exchange things
5.
FLASHCARD QUESTION
Front
What is a Free Market Economy?
Back
Economic system in which the three basic economic questions are based on voluntary exchange in markets
6.
FLASHCARD QUESTION
Front
What is another name for a free market economy?
Back
Capitalist Economy
7.
FLASHCARD QUESTION
Front
Which country is known for having a free market economy?
Back
United States
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