Social Studies, 30.01.2020 03:43, ashlynwestgate11
Asystem of exchange whereby one good/service is given in return for another; bartering does not require monetary exchange
question 1 options:
trade
bartering
question 2 (1 point)
an economic model wherein government planners make all business and financial decisions.
question 2 options:
market economy
command economy
question 3 (1 point)
an economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom.
question 3 options:
free enterprise
economic system
question 4 (1 point)
the (or capitalist) model places economic decisions in the hands of the people and the law of supply and demand dictate what goods/services are produced/provided, at what price, etc.
question 4 options:
command
market
question 5 (1 point)
the required amount of a specific good that must be produced in a given time frame.
question 5 options:
production quota
subsistence
question 6 (1 point)
an economic model governed by custom, habit, and history.
question 6 options:
traditional economy
command economy
question 7 (1 point)
the capacity of private citizens to create new businesses independent of government direction or intervention.
question 7 options:
entrepreneurship
free enterprise
question 8 (1 point)
the creation, maintenance, and expansion of businesses outside the control or influence of the government.
question 8 options:
production quota
free enterprise
question 9 (1 point)
producing only what is necessary for personal use/survival
question 9 options:
subsistence
free enterprise
question 10 (1 point)
a 0-100 scale which ranks world economies from most command-leaning (0) to most market-leaning (100).
question 10 options:
free enterprise
economic continuum
Answers: 3
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Asystem of exchange whereby one good/service is given in return for another; bartering does not req...
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