CE 12A : United States Economy

Front

Select the type of economy the United States has- Command, Traditional, Mixed, Free Market

Back

Mixed

Front

Consumers have the ability to determine what goods and services will be produced through their purchases-

Back

Consumer Sovereignty

Front

Characteristic of the US economy that consists of earnings after all expenses have been paid-

Back

Profit motive

Front

Government involvement is limited in the US economy; most decisions regarding goods and services are made in the private sector. True or False?

Back

True

Front

Which factor is the cause to the effect? Options: Private Property, Free Enterprise, Competition, Profit Motive

Back

Competition

Front

To figure out what his profit is, Reggie must_______. His profit is_______.

Back

Subtract his expenses from his earnings; $50