Economic Systems Quiz

System of cultural beliefs within a society

System of production, resource allocation, and distribution of goods and services within a society (correct)

System of environmental conservation within a society

System of political governance within a society

Economic system (correct)

Resource allocation

Decision-making processes

Social system

Scarcity, choice, opportunity cost, and resource allocation (correct)

Monopoly, oligopoly, perfect competition, and monopolistic competition

Supply, demand, equilibrium, and price elasticity

Inflation, unemployment, economic growth, and government spending

<p>Dichotomies and comparisons between market economies and</p> Signup and view all the answers

<p>How various agencies and institutions are linked, information flows, and social relations within the system</p> Signup and view all the answers