U.S Economies Quiz

The United States is often described as a ____ economy.

• Capitalist

• Command

• Parliamentary

In this type of economy, the people decide the supply, demand, and price.  

• Market 
• Traditional
• Command 
• Mixed

Which economic system has the least amount of government involvement in decision making?

• Mixed
• Market
• Command
• Traditional

This picture best demonstrates which trait of the U.S. Economy?

• Competition
• Profit
• Free Markets
• Consumer Soveregnity

The United States Government promotes competition by -

• Encouraging Global Trade
• Encouraging Monopolies
• Prohibiting Start-Up Businesses
• Cutting off trade with other countries

This economy falls between pure market and pure command. It has some government regulation.

• market economy

• traditional economy

• mixed economy

• command economy

What type of government allows people to elect their representatives like the U.S.?

• Unlimited
• Totalitarianism 
• Monarchy
• Democracy 

The image provided is an example of what?

• Proprietorship
• Partnership
• Entrepreneur
• Corporation

The point where the supply and demand curves intersect determines what?

• Consumption
• Supply
• Price
• Production

_________________ results in lower prices and better quality goods and services.

• Consumer Sovereignty
• Private Property
• Profit
• Competition