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- 1. Multiple Choice
Economies that have characteristics of the command and market economy are called
mixed
command
traditional
- 2. Multiple Choice
Australia has a mixed economic system, but leans closer to which side of the economic continuum?
traditional
command
market
- 3. Multiple Choice
What percentage of economic freedom does Australia have?
14%
81%
52%
- 4. Multiple Choice
Australia ranks among the top _____ freest national economies in the world.
15th
5th
25th
- 5. Multiple Choice
In a free market economy, what do private citizens and businesses base their economic decisions on?
government setting prices
supply and demand of the market place
beliefs and customs of the past
- 6. Multiple Choice
In Australia, there are laws in place to protect the rights and property of people who want to start their own businesses in Australia.
True
False
- 7. Multiple Choice
Which group of people in Australia have used a traditional economy?
Native American people
Inuit people
Aboriginal people
- 8. Multiple Choice
What role does Australia’s government play in its economy?
The government plays no role in Australia's economy.
The government plays a major role in Australia's economy.
The government plays a very limited role in Australia's economy.
- 9. Multiple Choice
Who answers the three economic questions in Australia’s economy?
The government answers the three economic questions.
Individuals and businesses based on supply and demand.
Individual and businesses based on customs and beliefs of the past.
- 10. Multiple Choice
There are no pure market or pure command economies.
True
False
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