Economic Systems and Decision Making
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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Market Economy | people and firms act in their own best interest to answer the WHAT, HOW, and FOR WHOM questions.
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Command Economy | central authority makes most of the WHAT, HOW, or FOR WHOM decisions
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Economic System | an organized way of providing for the wants and needs of their people
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Social Security | a federal program of disability and retirement benefits that covers most working people
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Inflation | a rise in the general level of prices
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Fixed Income | income that does not increase even though prices go up
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Traditional Economy | the allocation of scarce resources, and almost all of the economic activity stems from ritual, habit, or custom
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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:
SEN10Rof2010
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