Types of Economic Systems

Multiple Choice

What is a service?

• Objects desired by consumers.
• A need that's provided for
• Those that supply our goods 
• Driving a vehicle for someone

Multiple Choice

a person or company that makes, grows, or supplies goods to sell is called the?

• damand
• price
• producer
• shortage

Multiple Choice

The want or willingness a consumer has to purchase a good or a service is called?

• shortage
• supply
• price
• demand

Multiple Choice

Which of these is considered a "good"?

• Baseball glove
• Phone
• Computer
• All of the above

Multiple Choice

The willingness and ability of a producer to make a product is referred to as

• quantity supplied

• quantity demanded

• supply

• demand

Multiple Choice

In my country, central planners decide when we should expand old factories and build new ones.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country, central planners decide when we should expand old factories and build new ones.

• Traditional

• Command

• Market

• Mixed

Multiple Select

In my country, business is based on competition. Success comes from doing something better and cheaper than your competitors.

• Traditional

• Command

• Market

• Mixed

Multiple Select

In my country, business is based on competition. Success comes from doing something better and cheaper than your competitors.

• Traditional

• Command

• Market

• Mixed

Multiple Select

In my country, I know that all my needs will be met, but not my wants.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country, the government controls the economy. It assigns jobs, sets production goals, and decides wages.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country my job is the same one that my family has done over the past 200 years.

• Traditional

• Command

• Market

• Mixed

Multiple Select

In my country producers decide what and how much to make based on what people want to buy.

• Traidtional

• Command

• Market

• Mixed

Multiple Choice

In my country, the government has some involvement in the economy.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country, the government makes all the economic decisions.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

,In my country, the government tells me where to work.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country there is a private sector and a public sector.

• Traditional

• Command

• Market

• Mixed

Multiple Select

In my country, profits are the incentives for production.

• Traditional

• Command

• Market

• Mixed

Multiple Select

In my country, consumers are very powerful in economic decision-making.

• Traiditional

• Command

• Market

• Mixed

Multiple Select

In my country, consumers don't have a lot of choice in what they can buy.

• Traditional

• Command

• Market

• Mixed

Multiple Choice

In my country, there is little economic growth because we do not use any new technologies.

• Traditional

• Command

• Market

• Mixed