Economic systems PV

I am going to do the best i can and take my time answering each question.

• True
• False

There are four types of economic systems.  Most economies are _____. 

• Traditional, Free enterprise, Socialist, and Communist
• Traditional, Socialist, Communist, Republican
• Free Enterprise, Communist, Democratic, and Socialist
• Communist, Socialist, Free enterprise, and Entrepreneurship

If there are only 100 televisions on sale and 200 people want to buy TV's, that is a problem of ____. 

• desire
• demand
• supply
• scarcity

I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy. 

• Traditional 
• Free enterprise
• Socialist
• Communist

What are the 3 economic questions?

• What to produce? How To Produce? For whom to produce?
• Who to produce? Why you produce? Like to produce?
• Why to produce? Tell who to produce? Things to produce?

If I choose to produce fish for my town because my mom and dad were fishermen/women, what economic system is this?

• free enterprise
• socialist
• Traditional
• Communist

Which economy is dictated by supply and demand and the buyers and sellers?

• free enterprise
• Socilaism 
• communist
• traditional

Which of the following is an economic system in which economic decisions are made according to social roles & culture?

• free enterprise economy
• Communist economy
• Traditional economy
• socialist economy

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? 

• What goods and services will be produced?
• What is the price of the goods? 
• Who is responsible for producing goods and services?
• How will goods and services be distributed to customers?

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional 
• free enterprise
• Communist
• socialist