BE 2.03-2.05

Front

Which of the following items is found in all economic systems: Technology, Participants, Substistence, Dollars?

Back

Participants

Front

The most common medium of exchange in modern economic systems is

Back

Money

Front

One of the reasons that a country needs an economic system is because it

Back

Has a limited supply of resources

Front

Which of the following types of economic systems adopts the fewest new ideas and improvement: Communist command, Socialist command, Market, Traditional?

Back

Traditional

Front

In an economy, the government controls the economic system and does not allow private ownership of the means of production and distribution.

Back

Communist command

Front

Government owns some basic means of production, but there is private ownership of business under

Back

Socialism

Front

In a economy, individuals and businesses own the means of production and distribution with limited government regulation.

Back

Market

Front

An example of a country that has a socialist command economy is: Japan, Sweden, China, North Korea

Back

Sweden

Front

Which of the following cultures has a traditional economic system: Amazon Rainforest communities, Villages in the Rocky Mountains, Rural areas in Demark, Cuban neighborhoods?

Back

Amazon Rainforest communities

Front

A country that currently has a communist command economic system is

Back

North Korea