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- 1. Multiple Choice
In a Traditional Economy:
The citizens have little individual freedom.
All of the above
People do things the way they always have.
Is based on free trade and individual choices.
- 2. Multiple Choice
"Tradition Economy guides economic decisions such as production and distribution."
True
False
- 3. Multiple Choice
This country is an example of a Traditional Economy
Turkey
North Korea
United States
Mexico
- 4. Multiple Choice
In a Traditional Economy activities are:
Centered around the needs of the government.
Centered around the needs of people.
All of the above
- 5. Multiple Choice
Where are you most likely to find a Traditional Economy?
South West Asia.
Europe
America
All of the above
- 6. Multiple Choice
Every Traditional Economy is...
The same
Different based on its region's unique customs
Socialist
Communist
- 7. Multiple Choice
Traditional Economies are based off of...
Barter and trade
Depends
Government regulations
The market value of products
- 8. Multiple Choice
Traditional Economies typically revolve around..
Whatever the government wants it to
Hunting, fishing, growing, and gathering
Bitcoin
The stock market
- 9. Multiple Choice
What is a disadvantage of this economy?
very vulnerable to changes in nature especially weather.
overproduction of goods
more destructive to the environment
- 10. Multiple Choice
What is an advantage of a traditional economy?
lack of producers.
less destructive to the environment
freedom of consumers
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