Fundamentals (Set 2)
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| Three Key Economic Questions | show 🗑
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| show | Economic system that relies on habit and customs to decide the production and consumption of goods.
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| Command Economy (Centrally planned) | show 🗑
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| show | Economic system where decisions about production and consumption are made by individuals.
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| show | Economic system where decisions about production and consumption are made by individuals & the government.
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| Household | show 🗑
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| show | Organization that uses resources to produce a product. A business.
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| Specialization | show 🗑
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| Factor Market | show 🗑
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| Product Market | show 🗑
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| show | describes the self-regulating nature of a market economy. Self-interest and competition keep businesses acting in the consumers best interest.
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| Socialism | show 🗑
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| Communism | show 🗑
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| Private Property | show 🗑
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| Laissez Faire | show 🗑
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| show | An expectation that encourages people to behave a certain way.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
croper1
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