
Economic Systems: Market vs. Command
Authored by Andre Stewart
Social Studies
12th Grade
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are resources allocated in a command economy?
Based on consumer demand and market forces.
Through a system of barter and trade.
According to the decisions made by central planners.
By private businesses seeking to maximize profits.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What characterizes private ownership in a market economy?
The state owns all property and businesses.
Individuals and businesses own property and businesses.
All property is shared equally among citizens.
Foreign entities own the majority of economic resources.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is central planning in a command economy?
A decentralized decision-making process by individual consumers and producers.
A process where market forces determine the production and distribution of goods.
A method where the government makes all decisions about the economy's direction.
A system where local governments have the autonomy to make economic decisions.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, how is state ownership of businesses justified?
It ensures competition and consumer choice.
It allows for the personal wealth of the rulers.
It is believed to lead to a more equitable distribution of resources.
It is necessary for the protection of intellectual property rights.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a command economy theoretically prevent monopolies?
By allowing free competition.
Through deregulation of industries.
By having all industries state-owned and controlled.
By encouraging foreign investment.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, who typically determines the price of goods and services?
Consumers based on their preferences.
Producers based on supply and demand.
The government or central planning authority.
International market trends.
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