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- 1. Multiple ChoiceEach type of economies answers the three basic questions of economics __________.the samedifferently
- 2. Multiple ChoiceWhat is one basic question of economics?What will be produced?Who acquires what goods and services?What resources are available?What is the opportunity cost?
- 3. Multiple ChoiceWhat is a characteristics of a market economy?lack of choiceindividual choicecompetitioncentral ownership of property
- 4. Multiple ChoiceWhich type of economy has central ownership and lack of individual choice?Market EconomyMixed EconomyCommand EconomyTraditional Economy
- 5. Multiple ChoiceWhich type of economic system bases its decisions on custom?Market EconomyMixed EconomyCommand EconomyTraditional Economy
- 6. Multiple ChoiceWhich type of economy is controlled by the government?CommandMarketMixedDemocratic
- 7. Multiple ChoiceWhich type of economy is run by the businesses & business owners?CommandMixedCommunistMarket
- 8. Multiple ChoiceWhich type of economy is based on traditions and beliefs?CommandMarketTraditionalMixed
- 9. Multiple ChoiceThis economy would most likely have a dictator.MixedCapitalismSocialismCommunism
- 10. Multiple ChoiceWhich type of economy involves trading, and doesn't usually use money?CommandTraditionalMarketMixed
- 11. Multiple ChoiceWhich type of economy has the government making all decisions?MarketMixedTraditionalCommand
- 12. Multiple ChoiceHow many types of economies are there?3542
- 13. Multiple ChoiceMost countries have a mixed economy with one part of the mix being dominant.TrueFalse
- 14. Multiple ChoiceUnder a command system, who owns the factors of production?ConsumersEldersGovernmentBusinesses
- 15. Multiple ChoiceIf the government makes me produce 70 T-Shirts, what economic system is this?MixedTraditionalCommandMarket
- 16. Multiple ChoiceIf I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?MixedTraditionalMarketCommand
- 17. Multiple ChoiceThe price of a t-shirt is set by how much the businesses are willing to pay.MarketMixedTraditonalCommand
- 18. Multiple ChoiceMy father was a fisherman, I am a fisherman and my son will be a fisherman.MarketMixedTraditionalCommand
- Answer choicesTagsAnswer choicesTags