click below
click below
Normal Size Small Size show me how
7th grade econ II
7th grade econ questions/answers
| Question | Answer |
|---|---|
| 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, |