Quiz: Unit 1.2: Vocabulary Quiz.pdf - Unit 1.2 Vocabulary Quiz Started Jul 1 at 2:54pm Quiz Instructions Question 1 5 pts Match the following vocabulary

Quiz: Unit 1.2: Vocabulary Quiz.pdf - Unit 1.2 Vocabulary...

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Unformatted text preview: Unit 1.2: Vocabulary Quiz Started: Jul 1 at 2:54pm Quiz Instructions Question 1 5 pts Match the following vocabulary terms with the correct definition: command system relies on government to determine who gets what market system relies on people motivated by their own self-interest resource market place where factors of production are bought and sold product market place where goods and services made by businesses are bought and sold mixed economy sometimes uses markets and sometimes government to determine how Question 2 5 pts Match the vocabulary term to the correct definition: economic system market system and command system are examples medium of exchange any item sellers generally accept and buyers use to pay for a good private property the rights of individuals to obtain, own, control, employ and dispose of la competition freedom within the market system for buyers and sellers to enter and le barter the exchange of one good for another Quiz saved at 3:00pm Submit Quiz ...
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