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7th grade econ II

7th grade econ questions/answers

QuestionAnswer
Of the four economic systems, which generates the least wealth? Traditional economic system
Of the four economic systems, which involves the most risk? market system
Of the four economic systems, which involves the least risk? Command system
Of the four economic systems, which involves the most ECONOMIC freedom? Market system
If the demand for a product rises the price will rise
If the demand for a product falls the price will fall
If the supply of a product rises the price will fall
If the supply of a product falls the price will rise
If the price of a product rises the demand will fall
If the price of a product falls the demand will rise
If the price of a product rises the demand will fall
If the price of a product falls the supply will fall
If the price of a product rises the supply will rise
Name five things that might cause demand for a product to rise lower price, advertising, increased quality, unavailability of a substitute, government action,
Created by: football09
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