WG10A DOL
Flashcard
•
Geography
•
9th Grade
•
Easy
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20 questions
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1.
FLASHCARD QUESTION
Front
Which of the following is a characteristic of a traditional economy?
High levels of innovation and technology,
Reliance on customs and traditions,
Centralized decision-making,
Free market competition
Back
Reliance on customs and traditions
2.
FLASHCARD QUESTION
Front
In a socialist economy, who typically owns the means of production?
Back
The government
3.
FLASHCARD QUESTION
Front
What is one advantage of a market economy?
Back
Efficient allocation of resources
4.
FLASHCARD QUESTION
Front
Which of the following is a disadvantage of a command economy? High levels of consumer choice, Rapid response to consumer demands, Lack of innovation, Decentralized planning
Back
Lack of innovation
5.
FLASHCARD QUESTION
Front
How does a traditional economy typically determine the distribution of goods and services?
Back
By following historical patterns
6.
FLASHCARD QUESTION
Front
Which feature is commonly associated with a socialist economy? Options: Private ownership of all businesses, Minimal government intervention, Social welfare programs, High levels of income inequality
Back
Social welfare programs
7.
FLASHCARD QUESTION
Front
What is a key benefit of a market economy?
Back
Consumer sovereignty
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