6.1 GLOBAL ECONOMIC SYSTEM

Quiz
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Other
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University
•
Easy
N Diyana
Used 15+ times
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9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A country’s economic system is influenced by its political system.
TRUE
FALSE
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In a market economy system, the prices of products and services are determined by the government.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The features of market economy are free choice, free enterprise and price flexibility.
TRUE
FALSE
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Command economy is also known as centrally planned economy.
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In a command economy, a nation’s land, factories and other economic resources are owned by private individuals and companies.
TRUE
FALSE
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Mixed economy is an economic system in which land, factories and other economic resources are rather equally split between private and government ownership.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
North Korea and Cuba adopt mixed economic system.
TRUE
FALSE
8.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In a command economy, government control all economic activities while in in a market economy, government allow freedom to the citizens in managing economic activities.
TRUE
FALSE
9.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities to achieve social aims.
TRUE
FALSE
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