How would the United States change if we had a pure command economy?
The government would make all business decisions and own all businesses.
Oops!
Check
Okay!
Check
monster
Reset all scores!
Oops!
rocket
Go to first place!
Okay!
fairy
Take points!
5
10
15
20
25
baam
Lose 10 points!
Oops!
5
True or False: A traditional economy tends to stay the same and follow what a culture has done throughout history.
True
Oops!
Check
Okay!
Check
5
Anything used to make a good is called what?
A resource or input
Oops!
Check
Okay!
Check
15
What is the trade off if a country decides to go to war?
Many resources they use in the war cannot be used for the citizens of the nation and the needs they have.
Oops!
Check
Okay!
Check
eraser
Reset score!
Oops!
fairy
Take points!
5
10
15
20
25
gift
Win 20 points!
Okay!
thief
Give points!
5
10
15
20
25
15
Explain what a market is.
The free exchange of goods and services between buyers and sellers.
Oops!
Check
Okay!
Check
10
How would the U.S. change if we had a pure market economy?
All decisions would be made by businesses. The government could not restrict them.
Oops!
Check
Okay!
Check
15
What does it mean if a business owner has profit incentive?
They are motivated by making a profit.
Oops!
Check
Okay!
Check
banana
Go to last place!
Oops!
gold
Win 50 points!
Okay!
fairy
Take points!
5
10
15
20
25
lifesaver
Give 15 points!
Oops!
thief
Give points!
5
10
15
20
25
shark
Other team loses 20 points!
Okay!
gift
Win 20 points!
Okay!
lifesaver
Give 25 points!
Oops!
5
If making a restaurant, the construction workers would be which type of input?
Labor
Oops!
Check
Okay!
Check
10
Provide an example of a situation where you would see a mixed economy.
This could be anything as long as the company makes most decisions but the government has some power to limit what the company can do.
Oops!
Check
Okay!
Check
10
If you are looking at the overall health of the United States economy are you looking more at Macroeconomics or Microeconomics.
Macroeconomics
Oops!
Check
Okay!
Check
10
What is scarcity?
The reality we don't have enough money, time, or resources to get everything we want.
Oops!
Check
Okay!
Check
10
What type of system would you have if some industries are controlled by the government but others are controlled by businesses- Capitalist, Socialist, or Communist?
