6SS.E.36: analyze different economic systems in Europe

Which economic system answers the question, "What to produce?" by relying on customs and traditions?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

In a command economy, who decides how resources will be used to produce goods?

• Business owners

• The government

• Consumers

• Local communities

How does a market economy decide for whom to produce goods?

• Based on government policies

• Based on consumer demand and ability to pay

• Based on family or community needs

• Based on the country's traditions

Which of the following is true about how a traditional economy operates?

• Businesses decide the prices of goods and services.

• Production is influenced by inherited roles and cultural practices.

• Governments regulate trade and production.

• Technology plays a major role in production.

What does it mean for a country to have a mixed economy?

• The government owns all businesses.

• It combines elements of both market and command economies.

• People make decisions based on tradition.

• The government does not interfere in the economy.

Which of the following statements about mixed economies is correct?

• All countries have purely market economies.

• Mixed economies balance government control with consumer freedom.

• Mixed economies rely only on tradition for economic decisions.

• Mixed economies do not exist in Europe.

On the economic continuum, which country is closer to a market economy?

• Russia

• Germany

• United Kingdom

• None of these

How does the United Kingdom's economy differ from Russia's?

• The United Kingdom has more government control than Russia.

• Russia's economy is closer to a command economy, while the UK is closer to a market economy.

• Both are purely market economies.

• Both rely entirely on consumer demand to make decisions.

What is one similarity between Germany’s and the United Kingdom’s economic systems?

• Both are purely market economies.

• Both have elements of government control and consumer-driven markets.

• Both rely on traditional methods of production.

• Both are closer to command economies.

Which of the following statements best describes Russia’s economy?

• It is purely command with no market influence.

• It is a mixed economy closer to command.

• It is a mixed economy closer to market.

• It is a purely market economy.