Economics Part 2

Multiple Choice

Based on the passage, East Germany's government planned to transform its economy from: Click the magnifying glass for a better view.

• Traditional to mixed

• Command to traditional

• Market to mixed

• Command to mixed

Multiple Choice

What is an economic system?

• A way to produce goods only

• A way to exchange services only

• The way people produce and exchange goods and services

• A method of taxation

Multiple Choice

What are goods?

• Goods are intangible services that cannot be bought or sold.

• Goods are tangible products that can be bought and sold in the market.