Chapter Test Flashcards
(14 cards)
1
Q
Supplies used to produce goods
A
Capital goods
2
Q
Relies more on equipment than workers
A
Capital intensive
3
Q
Requires more workers than equipment
A
Labor intensive
4
Q
Based on individuals productivity
A
Libertarian fairness
5
Q
Based on individuals equality
A
Egalitarian fairness
6
Q
Written by Karl Marx
A
Communist manifesto
7
Q
4 economic goals
A
Low unemployment rate, stable prices, healthy rate of economic growth, fair distribution of income
8
Q
Decides what it will produce
A
Command economy
9
Q
When you want to work but can’t find a job
A
Unemployment
10
Q
Same as libertarian concept
A
Economic Darwinism
11
Q
When you have more resources
A
Extensive growth
12
Q
Use your own resources
A
Intensive growth
13
Q
Policy of equal distribution of a nation’s income
A
Economic leveling
14
Q
Produce what you will to produce
A
Market economy
