Economics

In what economic systems do private citizens determine what to produce, how to produce it, and how to market it?

• Traditional Economy

• Market Economy

• Command Economy

• Mixed Economy

In what economic system does the government determine what to produce, how to produce it, and how to market it?

• Traditional Economy

• Market Economy

• Command Economy

• Mixed Economy

What is the total amount of payment received from a consumer for a good or service?

• Costs

• Profits

• Deductions

• Revenue

What is the general increase in prices over time?

• Inflation

• Deflation

• Stagflation

• Hyperinflation

What do you call the tools and equipment needed to create a good or service?

• Capital Resources

• Human Resources

• Land Resources

• Entrepreneurial Ability

What is the total amount of a good or service available for purchase?

• Producer

• Consumer

• Demand

• Supply

What do you call someone who makes or provides a good or service for purchase?

• Producer

• Consumer

• Demand

• Supply

What is a good which is produced domestically but sold in a foreign country?

• Import

• Export

• Gross Domestic Product

• Human Development Index

What is the calculation of the value in USD of all the goods and services

• Import

• Export

• Gross Domestic Product

• Human Development Index

What do you call a country with a strong economy and easy access to education, healthcare, and vital goods and services?

• Least Developed Country

• Less Developed Country

• More Developed Country

• Third World County