Economic Systems 11b

Economic Systems 11b

Multiple Choice

For whom is Apple mainly making these products?

• college students

• teenagers

• people outside the U. S.

• adults

Multiple Choice

Which is true of a traditional economy?

• Children never need to worry about what they will do when they grow up.

• A new invention to make the work easier is welcome.

• Government supports traditional economies.

• Traditional economies are concerned with consumer wants and needs.

Multiple Choice

In a market economy, __ rule the economy.

• the government

• entrepreneurs

• supply and demand

• new products

Multiple Choice

An example of the U.S. government intervening in the economy is--

• supporting the creation of a COVID vaccine

• approving stimulus checks for citizens

• encouraging wearing masks to prevent COVID

• holding a presidential election in November

Multiple Choice

Centered around the passing down of customs and beliefs

• market

• command

• traditional

• mixed

Multiple Choice

The government is hands off.

• market

• command

• traditional

• mixed

Multiple Choice

People who are different or have new ideas are often isolated

• market

• command

• traditional

• mixed

Multiple Choice

Most popular economy in the developed world

• market

• command

• traditional

• mixed

Multiple Choice

Individuals have little or no say in economic decisions.

• market

• command

• traditional

• mixed

Multiple Choice

Citizens can lose motivation and innovation.

• market

• command

• traditional

• mixed

Multiple Choice

Individuals and government make economic decisions.

• market

• command

• traditional

• mixed

Multiple Choice

Innovation and creativity thrive.

• market

• command

• traditional

• mixed