Government and Economy Quiz

What are the three things a government must have in order to operate?

• Sovereignty, authority, and legitimacy

• Money, resources, and people

• Laws, leaders, and citizens

• Military, economy, and culture

After the collapse of the Soviet Union, a small group of people took over making Russia what type of government?

• Democracy

• Oligarchy

• Monarchy

• Theocracy

In Saudi Arabia, the government is based on Islam. This makes Saudi Arabia what type of government?

• Democracy

• Theocracy

• Republic

• Oligarchy

In Bhutan, the leader cannot be held accountable for his actions although his power is limited by a constitution. What kind of government is this?

• Absolute monarchy

• Constitutional monarchy

• Republic

• Dictatorship

What type of government allows for all of the citizens to have a vote on laws and policies?

• Anarchy

• Direct Democracy

• Monarchy

• Representative Democracy

What are the key characteristics of a traditional economy?

• Innovation and technology

• Custom, tradition, and community

• Central planning and control

• Free market and competition

Who really makes all the decisions in a command economy?

• The consumers

• The government

• The businesses

• The market

What are the key characteristics of a market economy?

• Government control and planning

• Custom and tradition

• Supply and demand and NO government

• Centralized decision-making

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

• Traditional economy

• Mixed economy

• Command economy

• Market economy

What type of economy are the means of production, distribution, and exchange of goods owned or regulated by the state but there is still a market, private property still exists, and citizens generally control their own labor?

• Communism

• Socialism

• Capitalism

• Individualism