European Economics Quiz

What economy is run by the government?

• Command

• Market

• Traditional

• Mixed

What economy is run by supply and demand?

• Command

• Market

• Mixed

• Traditional

What economy is based on traditions and customs?

• Command

• Market

• Mixed

• Traditional

Which one of these answer choices best describes where most pure command or market economies operate?

• North Korea

• South Korea

• U.S.

• No country follows a pure market or command economy

What is a tax on imported goods?

• Tariff

• Quota

• Sanction

• Subsidy

What type of economy is made up of a command and market economy?

• Sector Economy

• Traditional Economy

• Mixed Economy

• Demand Economy

Which one of these best describes the definition of economics?

• Increasing diplomacy, or negotiations between countries

• The study of people and places

• The production, distribution, and consumption of goods and services

• Producing food for disadvantaged countries

What describes the line which shows how much a mixed economy is either command or market?

• Generator

• Central Line

• The Prime

• Continuum

Which one of these describes why countries trade with other countries?

• To help other countries

• Lack of natural resources

• Autocratic government force them to

• Most countries do not trade

What word describes a country being able to produce a good faster and better than another country?

• Distribution

• Consumption

• Production

• Specialization