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Economics

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
show an economic system where are all decisions are based on cultural traditions and customs  
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market economy   show
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command economy   show
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show an economy where both market and government forces impact what consumers can buy  
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show One of three basic economic questions every society must answer; how to make the best use of limited resources to satisfy human needs and wants. Ex. produce kitchen appliances or weapons, build and fix roads or buy textbooks for schools.  
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show One of three basic economic questions every society must answer. Ex. Should we use copper or plastic to make pipes? Should machines be used to make clothing or should workers make it by hand? Which fertilizer is best for growing strawberries?  
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show One of the three basic economic questions every society must answer. Ex. Once produced, who will get to consume them? Will it be a first-come, first-served basis? Should given out by height, weight, age, gender, strength, or wealth?  
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Created by: McClure 6 SS
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