EPF- Unit 2 Test Review

1.

• Peak
• Trough
• Expansion
• Contraction
• Growth Trend Line

2.

• Trough
• Peak
• Expansion
• Contraction
• Growth Trend Line

3.

• Contraction
• Trough
• Peak
• Expansion
• Growth Trend Line

4.

• Expansion
• Trough
• Peak
• Contraction
• Growth Trend Line

5.

• Real GDP
• Trough
• Peak
• Expansion
• Contraction

6.

• Time
• Trough
• Peak
• Expansion
• Contraction

7.

• Growth Trend Line
• Trough
• Peak
• Expansion
• Contraction

This system is based on customs, history and beliefs.

• Traditional Economy
• Command Economy
• Market Economy
• Mixed Economy

This is an economy in which production, investment, prices, and incomes are determined by a government.

• Traditional Economy
• Command Economy
• Market Economy
• Mixed Economy

This is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses.

• Traditional Economy
• Command Economy
• Market Economy
• Mixed Economy