Economics Quiz Review

What are the characteristics of a traditional economic system?

• Relies on government

• Driven by consumers

• built upon traditions, customs, and beliefs

Which type of economy has central ownership and lack of individual choice?

• Market Economy
• Mixed Economy
• Command Economy
• Traditional Economy

Which type of economy is controlled by the government?

• Command
• Market
• Mixed
• Democratic

Which type of economy is run by the businesses & business owners?

• Command
• Mixed
• Communist
• Market

Which type of economy has the government making all decisions?

• Market
• Mixed
• Traditional
• Command

In my country, the government controls the economy. It assigns jobs, sets production goals, and decides wages.

• Traditional

• Command

• Market

• 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 
• Centrally planned 

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 

Doctor: Goods or Service?

• Goods
• Service

iPhone: Goods or Service?

• Goods
• Service