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Economic Systems

Authored by Shahannah DOOKHAN

Other

10th - 11th Grade

Used 1+ times

Economic Systems
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If a planned economy became a mixed economy, which industry would be most likely to remain under government control?

Agriculture

Coal Mining

Defence

Motor car production

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Each country of Southern Africa has a mixed economy.

Which statement about a mixed economy is correct?

The government employs most primary sector workers

The government owns all major secondary sector industries

The government owns the transport network

The government provides public and merit goods

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a mixed economy, resources are used as a result of

The decisions of consumers only

The decisions of firm only

The decisions of consumers and firms

The decisions of consumers, firms and government

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which argument can be used in favour of the market economy?

It enables consumers to show their preferences for goods

It ensures that all capital resources are used

It guarantees full employment

It leads to an equal distribution of wealth

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It was reported in 2002 that South Africa, a mixed economy, would face sharp increases in air and water pollution unless action was taken to develop environmentally friendly policies for its citizens.


Why is a mixed economy thought to be a satisfactory means of achieving environmentally friendly development?

Because all development is paid for by the government

Because it allows external costs to be considered

Because it ensures development at lowest cost

Because it is the most productive system

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is NOT one of the basic economic questions in Economics?

For whom will goods be produced?

How will goods be produced?

How will goods be transported?

What goods will be produced?

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A government decides that an economy should make more use of the market.

Which policy might help to achieve this?

A decrease in control of imported goods

An increase in government ownership of land

An increase in subsidies to industry

The fixing of minimum wage levels for workers

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