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- 1. Multiple ChoiceWhat type of economic system allows the government to decide what to produce, how to produce and for whom to produce?MarketMixedCommandTraditional
- 2. Multiple ChoiceWhat type of economic system is based on customs and beliefs?MarketMixedTraditionalcommand
- 3. Multiple ChoiceThe four types of economic systems are:Traditional, Command, Mixed, & MarketTraditional, Command, Combined, & MarketCommunism, Capitalism, Free Market, and MacroeconomicsMicroeconomics, Macroeconomics, Individual, and Traditional.
- 4. Multiple ChoiceIn the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy?TraditionalMarketCommandCentrally planned
- 5. Multiple ChoiceThe Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?TraditionalMarketCommandCentrally Planned
- 6. Multiple ChoiceWhat are the 3 economic questions?What to produce? How To Produce? For whom to produce?Who to produce? Why you produce? Like to produce?Why to produce? Tell who to produce? Things to produce?What to produce? How to produce? When to produce?
- 7. Multiple Choice________ is the most basic or fundamental economic problem.ScarcityLaborGreedCapital
- 8. Multiple ChoiceWhen someone or a business chooses to specialize or produce certain items.EntrepreneurEconomicsVoluntary ExchangeSpecialization
- 9. Multiple ChoiceA person who comes up with a product or service, and finds the money and time to produce this new product.EntrepreneurIncentiveSpecializationBarter
- 10. Multiple ChoiceWhat type of economy do most countries in the world have?Market economyCommand economyTraditional economyMixed economy
- Answer choicesTagsAnswer choicesTags