AKS 36

Most democratic countries have what type of economic system?

• mixed
• market
• command
• traditional

The economic system of a communist country is most closely related to which of the following:

• command

• market

• mixed

• traditional

What three economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

• What to produce, why to produce, when to produce?

• What is your opportunity cost, what economic resources are needed, why should these resources be used?

• What to produce, how to produce, and for whom to produce?

Economic decisions based on customs or beliefs are found in a what?

• command
• market
• mixed
• traditional

In a command economy, economic decisions are made by the who?

• government
• market
• consumers
• producers

Which of the following would reflect a country with a mixed economy?

• Prices and wages are solely regulated by a country’s government.

• A combination of privately-owned industry and government control.

• A country’s distribution of resources is based on traditions.

• Prices and wages are determined by the laws of supply and demand rather than being regulated by a country’s government.

 How did Russia’s economy change at the end of the Cold War (end of communism)?

• It moved closer to a command system on the continuum
• It moved closer to a market system on the continuum
• It became a traditional system
• It did not change

Which economic system is the most competitive?

• traditional

• market

• mixed

• command

What do the economic systems of the UK, Germany and Russia all have in common?

• mixed
• market
• command
• traditional

Most European countries are democracies. What type of economic system do most of these countries have?

• market
• command
• mixed
• traditional