Economic Systems Questions

A command economy is when the government is in control.

• True
• False

What is an economic system where only the government makes the economic decisions?

• traditional economy

• free enterprise

• mixed economy

• command economy

What type of economy do most countries in the world have?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

The country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional

• Market

• Command

• Centrally Planned

The government has little to no role in the production of goods in this type of economy.

• Traditional

• Mixed

• Command

• Market

The government gets to decide who gets what

• Traditional

• Command

• Mixed

• Market

Based on traditions

• Command

• Traditional

• Market

• Mixed

Businesses have freedom to produce whatever they think consumers will buy

• Market

• Command

• Mixed

• Traditional

A command economy is when the government is in control.

• True

• False

Government planning groups make the basic economic decisions such as which goods and service to produce, prices and wage rates.

• Command

• Traditional

• Market

• Mixed