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- 1. Multiple ChoiceIn which economic system does the government have all the power?Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 2. Multiple ChoiceThis system is associated with the least government involvement.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 3. Multiple ChoiceThis system is associated with some government-run and some privately-owned businesses.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 4. Multiple ChoiceThis system is associated with barter trade and earlier times (before money existed).Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 5. Multiple ChoiceThis system is associated with the ideas of Adam Smith and capitalism.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 6. Multiple ChoiceThis system is associated with the ideas of Karl Marx and communism.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 7. Multiple ChoiceThe United States is now categorized as this economic system.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 8. Multiple ChoiceThis system only can exist in small, more isolated societies today.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 9. Multiple ChoiceChina is now categorized as this economic system.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 10. Multiple ChoiceNorth Korea has this system, characterized as having little or no market competition.Traditional EconomyMarket EconomyCommand EconomyMixed Economy
- 11. Multiple ChoiceWhich one of the following words describes traditional economy?barteringgovernment makes all the decisionscapitalismjello
- 12. Multiple ChoiceWhich of the three economic systems has the most government involvement ?Market economyMixed economyCommand economyTraditional economy
- 13. Multiple ChoiceWhich of these associations is incorrect?Capitalism is a market systemTraditional economy is a command systemCommunism is a command systemSocialism is a mixed system
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