Weekly Quiz

Which type of economic system bases its decisions on custom?

• Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

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 run by the businesses & business owners?

• Command
• Mixed
• Communist
• Market

Government owns resources and controls production, prices, and wages.

• traditional
• command
• market 
• mixed

Prices and wages are determined by producer supply and consumer demand.

• traditional
• command
• market
• mixed

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

• Mixed
• Traditional
• Market 
• Command

Which of the following is an example of a tertiary economic activity?

• Teacher

• CEO

• fisherman

• factory worker

Which of the following is NOT an example of a quaternary economic activity?

• Food Lion CEO

• Artist

• Scientist

• Bus driver

The four economic sectors are ...

• First, second, third, fourth

• 1, 2, 3, 4

• Primary, secondary, tertiary, quaternary

• Ichi, ni, san, yon

A higher proportion of primary industry indicates that a country has a ...

• well developed economy

• developing economy

• undeveloped economy