CE.11b - 4 Types of Economies - Practice Quiz

In which type of economy does the government make all the decisions regarding what goods and services are produced, how they are produced, and who gets them?

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

Which type of economy is based on customs, traditions, and beliefs of the community?

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

In a __________, there is minimal government involvement in the economy.

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

Which type of economy combines elements of both free market and command economies?

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

A country that provides free education for all citizens through public schools but also allows and promotes private schools through voucher programs would best be described as a ___________.

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

In which type of economy would you most likely find bartering (trading items for items or services) as a common practice?

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

When a country owns all of the industries, sets the production, and sets the prices, that nation could best be described as using a ____________.

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

Which economic system is least likely to experience government-imposed price controls?

• Free Market Economy

• Mixed Economy

• Command Economy

In a __________ economy, the role of the government is typically limited to regulation to protect the public and to keep the market free.

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

A society that relies on agriculture and hunting for its economic structure is most likely using which type of economic system?

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy