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5 Written questions

5 Matching questions

  1. standard of living
  2. privatize
  3. household
  4. self-interest
  5. free enterprise
  1. a one's own personal gain
  2. b a person or group of people living in the same residence
  3. c to sell state-run firms to individuals
  4. d level of economic prosperity
  5. e an economic system characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market

5 Multiple choice questions

  1. government programs that protect people experiencing unfavorable outcomes
  2. the struggle among producers for the dollars of consumers
  3. a social and political philosophy based on the belief that democratic means should be used to evenly distribute wealth throughout a society
  4. land, labor, and capital
  5. Technology

5 True/False questions

  1. command economyeconomic system in which a central authority is in command of the economy; a centrally planned economy


  2. 4thEntrepreneurs


  3. mixed economyeconomic system in which decisions on production and consumption of goods and services are based on voluntary exchange in markets


  4. invisible handa person or group of people living in the same residence


  5. patriotismthe love of one's country; the passion that inspires a person to serve his or her country


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