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- 1. Multiple Choice
In a ______________ economic system, customs and traditions determine what and how to produce.
traditional
command
market
mixed
- 2. Multiple Choice
In a ______________ economic system, the government owns resources and controls production, prices, and wages.
traditional
command
market
mixed
- 3. Multiple Choice
Economy is...make (something needed or wanted) available to someone; providethe wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.arrange for (a room, seat, ticket, etc.) to be kept for the use of a particular person and not given to anyone else.Hallo - 4. Multiple Choice
A consumer is...
monkey
the economic factors affecting the price, demand, and availability of a commodity.
somebody who takes away stuff
a person who purchases goods and services for personal use. Another name for a customer
- 5. Multiple ChoiceA producer is...a person, company, or country that makes, grows, or supplies goods or commodities for sale.A personMarsthe state of being scarce or in short supply; shortage.
- 6. Multiple ChoiceHow would a free market economy be described?An economy in which decisions are made by the government.The international exchange of goods.An economy based on supply and demand with little or no government controlAn economy that is communist
- 7. Multiple Choice
What type of economy does the United States have?
Traditional
Command (Communist)
Market (Free Enterprise)
Mixed (Socialist)
- 8. Multiple ChoiceWhich type of economy involves trading, and doesn't usually use money?CommandTraditionalMarketMixed
- 9. Multiple Choice
Most countries have a mixed economy
True
False
- 10. Multiple ChoiceIf the government makes me produce 70 T-Shirts, what economic system is this?MixedTraditionalCommandMarket
- 11. 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
- 12. Multiple Choice
My father was a fisherman, I am a fisherman and my son will be a fisherman. What economic system is this?
Market
Mixed
Traditional
Command
- 13. Multiple Choice
Government regulates certain industries. What economic system is this?
traditional
command
market
mixed
- 14. Multiple Choice
Cuba and North Korea have this type of economic system
Socialist
Command
Free enterprise
Traditional Economy
- 15. Multiple Choice
What is subsistence farming?
Farming for sub-sandwiches
When farmers grow food crops to meet the needs of themselves and their families
When farmers grow enough to sell to stores
Farming for the government
- 16. Multiple Choice
The Inuit tribe has a ________________ economy
Command
Market
Mixed
Traditional
- 17. Multiple ChoiceWhich type of economy is run by the businesses & business owners?CommandMixedCommunistMarket
- 18. Multiple Choice
What is a Mixed Economy?
factories, machines, and technology
someone who has an idea for a good or service and takes the risk to produse it
an economy that is between a command and market
level of wealth and material comfort a country has
- 19. Multiple Choice
True or False? The three basic economic questions that every economy must answer are 1. What should be produced? 2. How should it be produced? 3. For whom should it be produced?
True
False
- 20. Multiple Choice____________is the process of making goods in a workshop or factory.CreatingManufacturingBuilding
- 21. Multiple ChoiceThe sale of goods in small amounts or on a small scale. Examples are HEB, Walmart, Academy, or Target.RetailWholesaleManufacturingAgriculture
- 22. Multiple Choice
This is the sale of large quantities of goods to retailers. Examples are Costco, Sam's Club, Frito-Lay Corporation, Coca-Cola Corporation, etc.
Retail
Manufacturing
Wholesale
Service Industry
- 23. Multiple Choice
What are the names of the types/ sectors of industry?
Primary, Secondary and Tertiary
Command, Capitalist and Communist
Political, economic and geographic
- 24. Multiple Choice
Which is answer choice has examples of SECONDARY industry?
Farming and Fishing
Retail stores like Walmart/ Target
Providing a service like teachers or doctors
Manufacturing cars or computers
- 25. Multiple Choice
Which is answer choice has examples of PRIMARY industry?
Farming and Fishing
Retail stores like Walmart/ Target
Providing a service like teachers or doctors
Manufacturing cars or computers
- 26. Multiple Choice
SELECT MULTIPLE ANSWERS: Which is answer choices are examples of TERTIARY industry?
Farming and Fishing
Retail stores like Walmart/ Target
Providing a service like teachers or doctors
Manufacturing cars or computers
- Answer choicesTagsAnswer choicesTags