FC7: Incentives, Economic systems
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Last updated almost 6 years ago
5 questions
1
A cost or benefit that motivates a decision or action by an individual is called:
A cost or benefit that motivates a decision or action by an individual is called:
1
An example of a positive incentive is:
An example of a positive incentive is:
1
Classify the following words or phrases with the economic system it is associated with.
Classify the following words or phrases with the economic system it is associated with.
- buying and selling but with some government
- Primitive societies
- Communism
- Capitalism
- supply and demand
- ritual, habit, and custom
- buyers and sellers
- central planning
- government control
- Traditional economy
- Command economy
- Market economy
- Mixed economy
1
Which of the following nations is primarily a command economy?
Which of the following nations is primarily a command economy?
1
In reality, all economics systems around the world are:
In reality, all economics systems around the world are: