The Mixed Economy

What type of company is listed on the stock market?

• Privately-owned firms

• Start-Ups

• Public limited companies

• Social enterprises

What is a key characteristic of partnerships?

• Owned by a single person

• Owned by the government

• Owned and controlled by two or more people and less than 20 people

• Owned by a corporation

Which objective might involve a company focusing on cost-cutting measures to stay afloat?

• Growth

• Social responsibility

• Survival

• Profit maximisation

Who owns public corporations or state-owned enterprises (SOEs)?

• Private investors

• The government

• Individual entrepreneurs

• International organizations

Which of the following is not an example of an aim of a public sector organization?

• Improving quality of service

• Not allowing for social costs and benefits

• Minimizing costs

• Make a profit

Which of the following is not an aim of a private sector organization:

• Survival

• Growth

• Profit Maximization

• Allow for social costs and benefits

In which type of economy is there freedom to start a business?

• Command Economy

• Market Economy

• Mixed Economic System

• Socialist Economy

What is the result of having finite resources and infinite wants?

• Surplus

• Scarcity

• Abundance

• Equilibrium

Which of the following best describes the concept of "demand" in the basic economic problem?

• The amount of resources available

• The desire for goods and services

• The production of goods

• The distribution of resources

Which of the following is not a characteristic of a Command Economy:

• Owned by the government

• Regulated by the government

• Price controlled by government

• Price controlled by market forces (demand and supply)