Ch. 3 Lesson 3 Quiz Review

Which of the 3 basic economic questions is being answered?:
Nike decides to use more robots on their assembly lines because it is more efficient than using workers.

• What will be produced?
• How will it be produced?
• For whom will it be produced?

Economic system where individuals (private owners) answer the three basic economic questions:

• Market

• Command

• Traditional

• Mixed

Economic system where tradition, customs, and values answer the three basic economic questions:

• Market
• Command
• Modern or Mixed
• Traditional

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

• Traditional

• Command

• Market

• Mixed

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

• Traditional 
• Market 
• Command 
• Mixed

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy?

• Traditional

• Market

• Command

• Mixed

If the government makes me produce 70 T-Shirts, what economic system is this?

• Mixed
• Traditional
• Command
• Market

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

Which of the following is a fossil fuel?

• Wind
• Coal
• Solar
• Biomass

Which of the following is a nonrenewable resource?

• milk
• coal
• biomass
• water