
Business in a world economy
Authored by Mohammad Khan
Professional Development
University
Used 4+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Every economic system answers three questions. What is produced? How is it produced?
For whom is it produced?
Why is it being produced?
Should it be produced at all?
How easily can it be produced?
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An economic system is a society's system of production, distribution and consumption of_______________.
Natural resources
Goods and services
Stocks and bonds
Factors of production
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who owns factors of production in a command economy?
Private citizens
Religious institutions
The government
All of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a characteristic of a market economy?
Profit is the motivation for most businesses
Supply and demand dictate price and production
Competition between businesses is discouraged
None of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In theory which type of economic system should not experience market fluctuations.
Command economy
Mixed economy
Market economy
All of the above
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In this type of economy, the people decide the supply, demand, and price.
Market
Traditional
Command
Mixed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This means that the government should not interfere in the marketplace.
Laissez Faire
Capitalism
Communism
Socialism
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