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Types of Economy Review

Authored by Erin Drzymalla

Social Studies

12th Grade

Used 11+ times

Types of Economy Review
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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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