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chapter 2 Test

Enter the letter for the matching Definition
incorrect
1.
full employment
incorrect
2.
mixed economy
incorrect
3.
command economy
incorrect
4.
voluntary exchange
incorrect
5.
income
incorrect
6.
self-interest
incorrect
7.
product market
incorrect
8.
democratic socialism
incorrect
9.
authoritarian socialism
incorrect
10.
private property
incorrect
11.
price stability
incorrect
12.
incentive
A.
the lowest level of unemployment
B.
property owned legally by individuals
C.
the impulse that encourages people to fulfill their needs and wants
D.
money that one is earned from their job
E.
an economic system demo socialism
F.
when prices stay constant
G.
a market that purchases low and sells higher
H.
an economy in which a central gov. authority makes all basic economic decisions and controls the factors of production
I.
exchange made by a volunteer
J.
something that encourages an action or effort.
K.
an economic system in which the gov. owns or controls nearly all factors of production
L.
traditional, market, and command combined
Type the Term that corresponds to the displayed Definition.
incorrect
13.
peoples economic stability of living
incorrect
14.
gov. owns or controls everything
incorrect
15.
a different brand who sells a simialir product as another
incorrect
16.
an economy in which production is based on customs and tradition
incorrect
17.
the free exchange of goods and services; also called a market place
incorrect
18.
free marketing in one enterprise
incorrect
19.
individuals own and control production
incorrect
20.
a market that sells resources to companies to make their products
incorrect
21.
an economy in which the gov. has little say in what how and for whom goods are produced and stacked on shelves conomy
incorrect
22.
an agreement made between producer and consumer

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