Economic Forces in Europe 2019 Part 1

In this type of economy there are some government owned businesses and some privately owned businesses.

• Market

• Traditional

• Mixed

• Command

A type of economy where businesses are owned by private citizens or groups of citizens.

• Command economy

• Mixed economy

• Market economy

• Traditional economy

A type of economy where the government owns all of a country’s resources and businesses.

• Command economy

• Mixed economy

• Market economy

• Traditional economy

A type of economy where people and families use the same work methods/tools generation after generation.

• Market economy

• Mixed economy

• Command economy

• Traditional economy

Which is an example of an entrepreneur?

• people who sell a hospital

• a person who runs a government-owned coal mine

• roofers who work for John’s Roofing Company

• a person who uses her money to start a business selling cell phones

Which of the following is not a goal of the European Union?

• To keep the environment clean and protect human rights

• To give everyone in Europe free access to the internet

• To create peaceful relationships between member countries

• To promote free trade and use common currency—the Euro

Which of following best describes a pure market economy?

• A person can start any legal business and charge any price

• The government provides food and housing to all workers.

• The government provides services, such as telephones and television.

• National businesses, such as airlines, are owned by the government.

Why might a country's government decide to place high tariffs on imported goods?

• to promote the sale of imported goods

• to encourage people to buy goods produced in their own country

• to generate more exports

• to help the economy of the country from which the goods came

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

• Prices are only regulated by a country’s government.

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

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

The economic system of communist countries is most closely related to which of the following?

• supply and demand

• traditional

• market

• command