Economic Systems

Front

Which of the following is a country which operates under a traditional economy? Options: North Korea, Cuba, Ecuador, Sweden

Back

Ecuador

Front

Which of the following is NOT one of the four economies the United States has experienced? Agricultural economy, Industrial economy, Service economy, Technology economy

Back

Technology economy

Front

Which of the following is a country which operates under control/socialism? Options: France, Mexico, Canada, Italy

Back

France

Front

What does an entrepreneur NOT do with the risks of a business or enterprise? Options: Manages, Assumes, Organizes, Displaces

Back

Displaces

Front

Which economic system allows citizens full freedom in choosing a career and workplace? Options: Capitalism, Fascism, Socialism, Communism

Back

Capitalism

Front

Which of the following is NOT one of the three main economic systems? Communism, Fascism, Socialism, Capitalism

Back

Fascism

Front

Complete governmental control is a characteristic of which of the three main economic systems?

Back

Complete control is not a characteristic of any of the three main economic systems

Front

What is another name for the private enterprise system?

Back

Capitalism

Front

Which of the following is NOT one of the three freedoms individuals have in a private enterprise system?

• Import and export of goods and services
• Buy goods and services
• Produce and sell goods and services
• Choose a career or workplace

Back

Import and export of goods and services

Front

Characteristic of an entrepreneur: Fear, Risk taking, Self deprecation, Pessimism

Back

Risk taking