Economics

Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

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

• Market economy
• Command economy
• Traditional economy
• Mixed economy

Capitalism flourishes here in this economic system.

• Traditional
• Market
• Command
• Mixed

What is an economic system where only the government makes the economic decisions? 

• traditional economy
• free enterprise 
• mixed economy
• command economy

What type of economy do most countries in the world have?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

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

• Traditional 
• Market 
• Command 
• Centrally Planned 

The system in which individuals in a market economy are free to undertake economic activities with little or no control by the government:

• Capitalism
• Investment
• Free Enterprise
• Communism

A fishing village would be an example of which economic system:

• Market
• Command
• Free Enterprise
• Traditional

The United States economy is based on this system:

• Command
• Market
• Traditional
• Socialist

The system in which people make their own decisions about how to save resources as capital and how to use their capital to provide goods or services:

• Investment
• Capitalism
• Free Enterprise
• Competition