FC3: resource payments, allocation strategies, GDP, standard of living
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Last updated almost 6 years ago
5 questions
1
Match the following types of income to the correct resource.
Match the following types of income to the correct resource.
- Interest income
- Rental income
- Profit income
- Wage/Salary income
- Land
- Human capital
- Physical Capital
- Entrepreneurship
1
Which of the following allocation strategies is used primarily in a market economy or capitalism?
Which of the following allocation strategies is used primarily in a market economy or capitalism?
1
Which of the following allocation strategies is used primarily in a command economy or communism?
Which of the following allocation strategies is used primarily in a command economy or communism?
1
The total dollar value of all final goods and services produced within a nation is called:
The total dollar value of all final goods and services produced within a nation is called:
1
On an individual level a person's standard of living will improve if:
On an individual level a person's standard of living will improve if: