Market Economy Review
Flashcard
•
Social Studies
•
9th - 12th Grade
•
Easy
David Woodman
Used 1+ times
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18 questions
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1.
FLASHCARD QUESTION
Front
In a market economy, the basic economic decisions are driven by?
Back
individuals
2.
FLASHCARD QUESTION
Front
Which characteristic does NOT describe a command economy?
Back
Individuals can decide what to produce and how much to produce
3.
FLASHCARD QUESTION
Front
Who determines the products in a command economy?
Back
Government Officials
4.
FLASHCARD QUESTION
Front
Capitalism is associated with all of the following characteristics EXCEPT: personal decisionmaking with regard to investments, the right to earn a profit based on individual effort, personal ownership of property, government intervention in the economy's decision making process.
Back
government intervention in the economy's decision making process
5.
FLASHCARD QUESTION
Front
Cuba's shift from a command to a market economy: Which is NOT a possible benefit?
Back
Workers could have a guaranteed income
6.
FLASHCARD QUESTION
Front
How can you determine that an economic transaction is voluntary?
Back
Because I act of my own free will
7.
FLASHCARD QUESTION
Front
People tend to work harder when an employer promises to increase their wages. The hard work is an effect of the incentive provided by the employer.
Back
True
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