Economic Systems Quiz

The former Soviet Union was an example of what kind of economic system?

• Command

• Market

• Mixed

• Traditional

Which economic system allows for the most individual freedom?

• Command

• Market

• Traditional

• Mixed

In which economic system does the government have the most control?

• Market

• Mixed

• Command

• Traditional

In which economic system do individuals do things based on customs & beliefs?

• Command

• Market

• Mixed

• Traditional

What is the economic system of most communist countries?

• Traditional

• Command

• Market

• Mixed

How do traditional economies exchange goods?

• using currency

• writing a check

• bartering

Which country is closest to a true Market economy?

• U.S.

• Germany

• Australia

• Austria

Most democratic countries have which type of economic system?

• Market

• Command

• Traditional

• Mixed

What are the three basic questions that every economic system must answer?

What are the three economic systems?