Choose the correct answer to each question by clicking on the radio button in front of that answer.
Biology Psychology Economics
2. The study of entire systems of economics is.
Macroeconomics Microeconomics Finance
3.The study of how the systems affects one business or the study of parts of the economic system is
4. The economic system of medieval times characterized by a strict class structure and serfs working the land in payment for protection from nobles is
Capitalism Socialism Feudalism Mercantilism
5. The economic system of the major trading nations during the 16th, 17th, and 18th cent., based on the idea that the power and wealth of nations was best served by trade and marked by increases in manufacturing and commerce is
6. During this period of history In the mid eighteenth century, ushered in an era in which machines rather than tools were used in the factory system and more workers were in factories rather than farms.
American Revolution Communist Revolution Industrial Revolution
7. This means that economies work best without lots of rules and regulations from the government.
Laissez-faire Subsidies Interdependence