Have an account?
Skip to Content
Build your own quiz
Suggestions for you
11 questions
Show Answers
See Preview
- 1. Multiple Choice
What are the 3 economic questions that every country must answer?
What to produce?
When to produce?
How to produce?
For whom to produce?
Why are we producing?
- 2. Multiple Choice
How do members of a traditional economy trade goods? (Choose two)
They use currency.
They barter.
They trade items without using money.
- 3. Multiple Choice
In a traditional economy, economic decisions are made based on what?
the changes in prices that occur as buyers and sellers interact
the government
customs, traditions and beliefs of the past
- 4. Multiple Choice
In a command economy, economic decisions are made based on what?
the changes in prices that occur as buyers and sellers interact
the government
customs, traditions and beliefs of the past
- 5. Multiple Choice
Who owns all property and resources in a pure market economy?
The government
A mixture of the government and private citizens
Private citizens
- 6. Multiple Choice
Most democratic countries have elements of which TWO economic systems?
traditional
command
market
communist
- 7. Multiple Choice
What type of economic system is found in South Africa, Nigeria and Kenya?
traditional
command
market
mixed
communist
- 8. Multiple Choice
What role does South Africa's government play in its economy? Choose 3.
They operate the postal service
They operate some of the communications network
They own some of the oil and gas companies.
They control the banking industry
They control tourism
- 9. Multiple Choice
Which African country has the strongest economy?
Kenya
Nigeria
South Africa
- 10. Multiple Choice
Which resource is the most important to Nigeria's economy?
oil
gold
diamonds
tourism
- 11. Multiple Choice
Every economy has at least some government control. Without government control there would be no laws to...(Choose 2).
make sure goods/services were safe
protect workers from unfair bosses
give economic freedom to citizens
allow entrepreneurs to start their own businesses
- Answer choicesTagsAnswer choicesTags