Economic Systems
4 years ago
vstaton
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12 QuestionsShow answers
  • Question 1
    30 seconds
    Q. Sam loves science and wants to become a doctor but he is learning how to make clay bricks like his father and grandfather.
    answer choices
    Free Market
    Traditional
    Mixed
    Command
  • Question 2
    30 seconds
    Q. Katia is an accountant in a government run business where she was placed after graduation.
    answer choices
    Command
    Traditional
    Free Market
    Mixed
  • Question 3
    30 seconds
    Q. Mary Ann runs a car dealership selling only government produced cars.  At the end of the month Mary Ann must give all of the money she made back to the government.
    answer choices
    Traditional 
    Free Market
    Mixed
    Command
  • Question 4
    30 seconds
    Q. Joe owns a shoe store.  At the end of the month Joe decides what to do with his profits.
    answer choices
    Command
    Free Market
    Traditional
  • Question 5
    30 seconds
    Q. Nike and Under Armour sell similar products.  This leads to a decrease in price and an increase in quality.
    answer choices
    Free Market
    Command
    Traditional
  • Question 6
    30 seconds
    Q. Sarah would like to become a doctor when she grows up.  Unfortunately, she lives in a country where her job will be decided for her by the government.
    answer choices
    Traditional
    Free Market
    Mixed
    Command
  • Question 7
    30 seconds
    Q. Ted is working towards his dream of becoming a lawyer by working at a law firm as a legal clerk.
    answer choices
    Free Market
    Traditional
    Command
  • Question 8
    30 seconds
    Q. Sally works in a private company that has to follow government rules for public safety.
    answer choices
    Free Market
    Command
    Mixed
    Traditional
  • Question 9
    30 seconds
    Q. Who or what answers the basic economic questions in a mixed economy?
    answer choices
    Individuals and Businesses
    Government
    Custom
    Individuals, Businesses, and Government
  • Question 10
    30 seconds
    Q. Who or what answers the basic economic questions in a traditional economy?
    answer choices
    Individuals and Businesses
    Government
    Custom
    Individuals, Businesses, and Government
  • Question 11
    30 seconds
    Q. Who or what answers the basic economic questions in a command economy?
    answer choices
    Individuals and Businesses
    Government
    Custom
    Individuals, Businesses, and Government
  • Question 12
    30 seconds
    Q. Who or what answers the basic economic questions in a free market economy?
    answer choices
    Individuals and Businesses
    Government
    Custom
    Individuals, Businesses, and Government
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