European Economy, Culture and Government Test Review

In parts of some countries social roles and culture decide what is produced.  Which term identifies this type of economic system?

• Traditional

• Market

• Command

• Mixed

In what kind of economic system does the government own the resources and control economic activity?

• Command

• Traditional

• Market

• Mixed

In a market economy, what or who determines what to produce, how to produce, and for whom to produce?

• Farmers

• Social roles and cultures

• Business owners and consumers

• Government

Children would be more likely to follow in their parents line of work in which economy?

• Mixed

• Market

• Command

• Traditional

Why do most countries have a mixed economy and not a pure market or pure command economy?

• In most economic systems both the government and citizens plan an important role in the economy.

• In a pure command economic system the people enjoy capitalism and free enterprise.

• In a pure market economic system the government makes every decision about production and consumption.

• All countries in the world operate on a traditonal economic system.

Where would the United Kingdom fall on the mixed economic continuum?

• Mixed economy, market leaning

• Pure Market Economy

• Pure Command Economy

• Mixed Economy, command leaning

GDP stands for...

• Gross Demand Product

• Gross Domestic Product

• Great Domestic Price

• Great Demand Protection

In which European country are you LESS LIKELY to find entrepreneurs based on the country's economic system?

• Germany

• Russia

• United Kingdom

• France

Countries that provide health care, educational opportunities, and train people to become more skilled in the workforce are investing in ________________________________________________.

• Natural Resources

• Capital Resources

• Human Resources

• Domestic Resources

Which best describes the role of natural resources in a country's economy?

• Companies spend more money because they import the natural resources needed to create goods.

• Companies spend less money on purchasing resources to create goods.

• Natural resources have no effect on a country's economy.