Economic Systems Quiz

In which economic system do traditions and customs play a significant role?

• Traditional

• Command

• Market

• Mixed

What determines the type of economic system a country will have?

• The way a country answers the three economic questions

• The country's population size

• The country's geographical location

• The country's language

What does bartering mean?

• Trading using money

• Trading without using money

• Trading with digital currency

• Trading with credit

What is not typically used in a traditional economy for trade?

• Money

• Bartering

• Goods

• Services

Which of the following is a reason why traditional economies are less common today?

• They are highly efficient

• They rely on outdated methods

• They are technologically advanced

• They have strong global trade connections

Which system is described as having all economic decisions made by the government?

• Command economy

• Market economy

• Mixed economy

• Traditional economy

Why are there no pure command countries in the world today?

• They are too expensive to maintain.

• They are very harsh to live under.

• They are too democratic.

• They are too small in size.

In a command system, who is in control of everything?

• The citizens

• The military

• The government

• The private sector

Which of the following is a feature of a communist government?

• Individual freedom

• Government control of everything

• Free enterprise

• Capitalism

What is the common government type among countries with command systems?

• Socialist

• Communist

• Democratic

• Monarchy