Economics
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| traditional economy | an economic system where are all decisions are based on cultural traditions and customs
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| market economy | an economic system in which prices, wages, and production are determined by consumers and not by the government
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| command economy | an economy where the government controls all economic decisions
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| mixed economy | an economy where both market and government forces impact what consumers can buy
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| What to produce? (goods and services) | 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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| How to produce? | 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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| For whom to produce? | 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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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:
McClure 6 SS
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