Types of Economy Review
Authored by Erin Drzymalla
Social Studies
12th Grade
Used 11+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The government or other central authority makes all economic decisions.
Traditional
Command
Market
Mixed
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Combines elements of pure market and command economies:government and individuals share economic decisions
Traditional
Command
Market
Mixed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic decisions are made by individuals competing to earn profits based on supply and demand.
Traditional
Command
Market
Mixed
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic system where custom governs economic decisions.
Traditional
Command
Market
Mixed
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Government serves to protect both producer and consumers from unfair policies and practices.
Traditional
Command
Market
Mixed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic activities are usaully centered toward the family, tribe, or ethnic group.
Traditional
Command
Market
Mixed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There is no competition; the purpose of business is to provide goods and services, not to make a profit.
Traditional
Command
Market
Mixed
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