Have an account?
Skip to Content
Build your own quiz
Suggestions for you
42 questions
Show Answers
See Preview
- 1. Multiple ChoiceIn a market economy, who decides on the prices of goods and services?governmentbuyers and sellersfirmslocal leaders
- 2. Multiple Choice
Which of the following describes a market economy?
The government decides to move you and many of your friends to the country so you can study farming
You notice a lot of people in your neighborhood have dogs so you decide to start a dog walking business
You grow up in a small village and are a fisherman just like your father and grandfather
The leader of your country decides you will become a coal miner
- 3. Multiple Choice
What countries have a Command Economy?
Iceland, Sweden, France, Australia
United States, Russia, Africa, Haiti
India, United Kingdom, Brazil
North Korea, Cuba, Soviet Union, China, Vietnam
- 4. Multiple Choice
Command economies are usually dominated by:
Free enterprise
Traditions, customs, and beliefs
State-owned enterprise
All of the above
- 5. Multiple Choice
A large part of a command economic system is controlled by:
a centralized power; federal government
No one. It's an economy based off of individual freedom
- 6. Multiple ChoiceWhat are the traits of a market economy?Has elements of two economic typesPrivate ownership, free trade, competition, most usedGovernment makes all economic decisions, communist countriesMake own goods, grow own food, barter, least used
- 7. Multiple ChoiceWhat are the traits of a command economy?Make own goods, grow own food, barter, least usedHas elements of two economic typesPrivate ownership, free trade, competition, most usedGovernment makes all economic decisions, communist countries
- 8. Multiple ChoiceWhich type of economy has the government making all decisions?MarketMixedTraditionalCommand
- 9. Multiple ChoiceIn a command economy decisions about what, how, and for whom to produce are determined bythe governmentsupply and demandcultural traditions
- 10. Multiple ChoiceHow many types of economies are there?1435
- 11. Multiple Choice
Most countries in the world, including the US, use what economic system?
Traditional
Command
Market
Mixed
- 12. Multiple ChoiceThe four types of economic systems are:Traditional, Command, Mixed, & MarketTraditional, Command, Combined, & MarketCommunism, Capitalism, Free Market, and MacroeconomicsMicroeconomics, Macroeconomics, Individual, and Traditional.
- 13. Multiple ChoiceThe Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?TraditionalMarketCommandCentrally Planned
- 14. Multiple ChoiceA system in which people produce, sell, and buy things.governmenteconomyculturebusiness
- 15. Multiple ChoiceIf you tell me a price on something and I offer you a different price, this is an example of what kind of economy?TraditionalCommandMarketMixed
- 16. Multiple ChoiceIf my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy.TraditionalMarketCommandMixed
- 17. Multiple ChoiceIn this type of economy, the individual decides who to sell their products to.TraditionalMixedMarketCommand
- 18. Multiple ChoiceWhat type of Economy is based on 'old fashioned ways' or farming?TraditionalMarketMixedCommand
- 19. Multiple ChoiceThe Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?TraditionalMarketCommandCentrally Planned
- 20. Multiple Choice
an economy that does things as they were done in the past- custom and tradition determine answers to the three economic questions
traditional economy
Communism
dictatorship
command economy
- 21. Multiple Choice
an economy in which government leaders give the answers to the three economic questions
traditional economy
democracy
socialism
command economy
- 22. Multiple Choice
A _____________ economy is driven entirely by voluntary exchange in markets
Traditional
Planned/Command
Mixed
Free Market
- 23. Multiple Choice
A _________ economy is a market-based system in which the government is involved to some extent.
Traditional
Planned/command
Mixed
Free Market
- 24. Multiple ChoiceWhich type of economy has the government and the citizens participate in what to produce and how to produce it?TraditionalAutocracyMixedCommand
- 25. Multiple ChoiceWhich of the following has the citizens and supply and demand control all of the economy without any government influence what-so-ever?CommandTraditionalConfederacyMarket
- 26. Multiple ChoiceBrazil and Mexico both have _______________ economies.MixedTraditionalCommandMarket
- 27. Multiple ChoiceIn a market economy, if your mom dad are both teachers, do you have to be a teacher?NOYesMaybe
- 28. Multiple ChoiceIn a command economy, who holds power over the economy?The peopleThe governmentBeyonceThe traditions of your ancesetors
- 29. 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?
- 30. Multiple ChoiceIf the government makes me produce 70 T-Shirts, what economic system is this?MixedTraditionalCommandMarket
- 31. Multiple ChoiceIf I choose to produce fish for my town because my mom and dad were fishermen/women, what economic system is this?MixedMarketTraditionalCommand
- 32. 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
- 33. Multiple ChoiceWhich economy is dictated by supply and demand and the buyers and sellers?MarketSocilaismMixedCommand
- 34. Multiple ChoiceWhich of the following is an economic system in which economic decisions are made according to social roles & culture?Market economyCommand economyTraditional economyMixed economy
- 35. Multiple ChoiceWhich of the following is NOT one of the three basic questions of economics when looking at economic systems?What goods and services will be produced?What is the price of the goods?Who is responsible for producing goods and services?How will goods and services be distributed to customers?
- 36. Multiple Choice
What economic systems consists of both command and market?
traditional
command
market
mixed
- 37. Multiple Choice
A ______________ economy is guided primarily by custom, habit, and ritual.
Traditional
Planned/command
Mixed
Free Market
- 38. Multiple ChoiceWhen you exchange oranges for sweet potatoes you arebarteringcommanding
- 39. Multiple ChoiceHan lives in a country where the government has total control of the economy. They decide what to produce, how to produce it, and who to produce it for. We call this type of economic system:marketmixedcommandtraditional
- 40. Multiple Choice
Fortunately for Rylie, she lives in a country where business owners decide what to produce, how to produce, and who to produce for. This type of economic system with no government regulation of business:
market
mixed
command
traditional
- 41. Multiple Choice
Leia is able to open her own business and decide what to produce and how to produce herself, but there are some government regulations that protect consumers and workers. What economic system does she live in?
market
mixed
command
traditional
- 42. Multiple Choice
Country A's economic system is decided by culture. Social roles and customs determine how goods are made, sold, and bought. Jobs are passed down from generation to generation. He lives in a
market
mixed
command
traditional
- Answer choicesTagsAnswer choicesTags