Unit 2 CBA - North America

#1 - IN A __________ ECONOMY, THE GOVERNMENT CONTROLS THE MEANS OF PRODUCTION (FARMS, MINES, FACTORIES)

• COMMAND
• DEMAND
• MARKET
• MIXED

#2 - IN A MARKET ECONOMY, THE ___________ CONTROLS THE PRODUCTION OF GOODS.

• GOVERNMENT
• PEOPLE
• MARKET
• MONEY

#3 - ___________ ECONOMIES ARE DRIVEN BY THE PRINCIPLE OF SUPPLY AND DEMAND.

• COMMAND
• COMMUNIST
• MARKET
• MIXED

#4 - A _____________ ECONOMY IS ALSO KNOWN AS A PLANNED ECONOMY.

• COMMAND
• SOCIALIST
• MARKET
• COMMUNIST

#5 - A __________ THAT HAS A MARKET ECONOMY IS SAID TO FOLLOW CAPITALISM.

• NATION
• STATE
• REPUBLIC
• NONE OF THE ABOVE

#6 - AN ECONOMIC PRINCIPLE THAT A GOVERNMENT SHOULD LET BUSINESSES AND THE ECONOMY TAKE ITS NATURAL COURSE WITHOUT INTERFERENCE IS CALLED_______________ ____________. IN THE UNITED STATES WE CALL THIS FREE ENTERPRISE.

• LAISSEZ FAIRE
• LESSER FARE
• LASER FEAR
• LASSY FAIR

#7 - AN UPSIDE TO A COMMAND ECONOMY – HIGH LEVELS OF GOVERNMENT CONTROL

• TRUE
• FALSE

#8 - A DOWNSIDE TO A COMMAND ECONOMY – GOVERNMENTS BECOME TOO POWERFUL

• TRUE
• FALSE

#9 - AN UPSIDE TO A MARKET ECONOMY – COMPETITION LEADS TO INNOVATION AND COST SAVING TECHNOLOGY

• TRUE
• FALSE

#10 - A DOWNSIDE TO A MARKET ECONOMY – DUE TO SUPPLY AND DEMAND LEADS TO EQUALITY

• TRUE
• FALSE