Economy Types Quiz

The government has set the price of milk to $3.99 based off quotas. What type of economic system is this describing?

• Traditional

• Command

• Market

• Mixed

The demand for wheat has increased recently. Farmers have decided to charge more for wheat. The government is not involved at all. What type of economic system does this describe?

• Traditional

• Command

• Market

• Mixed

The Aborigines of Australia have a strong system of tradition. They work together to farm, hunt, and gather. What type of economic system is this?

• Traditional

• Command

• Market

• Mixed

North Korea has a dictator who controls all economic decisions. The individuals have no say. What type of economic system is this describing?

• Traditional

• Command

• Market

• Mixed

The United States government guides and regulates our food industries, but individuals own businesses. What type of economic system is this describing?

• Traditional

• Command

• Market

• Mixed

A car company is solely concerned with their profits. Their country’s economy is often called “capitalist.” What type of economic system is this describing?

• Traditional

• Command

• Market

• Mixed

In many countries the government works to protect consumers and producers from unfair policies and practices. What type of economic system is this?

• Traditional

• Command

• Market

• Mixed

Tradition is a huge policy in some places. The choices are determined by the environment. What type of economic system is this describing?

• Traditional

• Command

• Market

• Mixed

In what type of economy are the choices people make determined by the environment?

• Traditional

• Command

• Market

• Mixed

In what type of economy are factories solely concerned with quotas?

• Traditional

• Command

• Market

• Mixed