Economies Test

What are the three questions each country has to answer?

• What to produce goods?

• How to produce goods?

• Whom to produce goods for?

• All of these

What are the four types of economic systems?

• traditional, command, market, autocracy

• traditional, command, market, mixed

• traditional, command, monarch, mixed

• traditional, communist, market, monarch

In which type of economic system are jobs passed down from parents to their children?

• command

• market

• traditional

• mixed

In which type of economic system is the government in control of what products are produced?

• traditional

• command

• market

• mixed

In which 2 types of economic systems can people own their own businesses?

• command

• traditional

• market

• mixed

Mixed economies are made up of which two types of economies?

• market

• traditional

• mixed

• command

Having to do the job your parents did, having to make your own clothes and plant your own food

• These are advantages of a traditional economy.

• These are advantages of a mixed economy.

• These are disadvantages of a traditional economy.

• These are disadvantages of a mixed economy.

Bartering for goods and services was mostly used in a ______________ economy.

• mixed

• market

• traditional

• command

Which of the following is the type of economy in which people, not the government, own the businesses and the factories?

• traditional

• mixed

• command

• monarch

Which type of economy is it when entrepreneurs can start their own businesses and charge any price they want as long as citizens are willing to pay it but the government has some rules?

• traditional

• command

• market

• mixed