Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is an economy?
What is an economy?
- A nation's method for making economic choices (correct)
- A system for distributing goods and services
- A nation's political and economic philosophies
- A method for meeting the needs of production
What is the main factor that affects the economy?
What is the main factor that affects the economy?
- Political decisions
- Technological advancements
- Scarcity (correct)
- Consumer demand
Which of the following economies answers the three basic economic questions through government control?
Which of the following economies answers the three basic economic questions through government control?
- Mixed economy
- Command economy (correct)
- Market economy
- Traditional economy
Why are most economies considered mixed?
Why are most economies considered mixed?
Signup and view all the answers
What does the term 'factors of production' refer to?
What does the term 'factors of production' refer to?
Signup and view all the answers
