Unit 7 Economics Unit Test

Match the following economic systems

• Free Market

• Private sector determines

• Command

• Ancestors determined

• Mixed Market

• Private and Public determines

• Traditional

• Central planning

• Communism

• Synonym for Command

Communism is influenced/based upon this economic philosophy

• Leninism

• Stalinism

• Free Market

• Marxism

In a ​ (a)   system, the ​ (b)   decisions are made by ​ (c)   and ​ (d)  

• free market
• economic
• individuals
• businesses
• command
• governments
• legislatures
• political

This type of economy best represents the US economy

In this economy there is no private property

True or False: A command economy (Communism) is based upon private sector profits

Which of the following is NOT an example of a public good or service?

• Springfield Mall

• The White House

• Hayfield Secondary

• FCPD

In the US ​ (a)   the US Congress is authorized to collect ​ (b)   taxes, from indviduals and ​ (c)   . They are given this authority by the ​ (d)   Amendment

• Constitution
• Income
• businesses
• 16th
• 13th
• Articles
• sales
• churches

The total amount of money the US Government owes is the ......

• Federal Deficit

• National Debt

• Discretionary Spending

• Federal Reserve

Select the infrastructure which is not a federal infrastructure example