Econ 2.4 Quiz

What is the role of highways in the farming family's economy?

• They connect the farm to markets

• They are used for leisure travel

• They are not important

• They are only for transporting animals

What do the grandparents in the farming family receive each month?

• A pension

• A Social Security check

• A salary

• A bonus

Which country is mentioned as having a market economy?

• France

• Sweden

• United States

• Germany

What type of economy does France try to find a middle way between?

• Socialism and Capitalism

• Traditional and Command

• Market and Industrial

• Command and Market

What is a feature of the U.S. economy according to the text?

• Government ownership

• Private ownership and markets

• Complete government control

• No government involvement

What is the purpose of using percentages in the context of government consumption?

• To express the level of government involvement in a country's economy.

• To calculate the total economy.

• To determine tax rates.

• To measure population growth.

What is the final step in calculating the percentage of government consumption?

• Use Canada as an example.

• Convert the answer to a percentage by multiplying by 100.

• Round your answer to a whole number.

• Read the table with data.

What is the process of changing from government or public ownership to private ownership called?

• Nationalization

• Privatization

• Globalization

• Industrialization

What did the British government nationalize to help recover from World War II?

• Agriculture

• Several important industries, including coal, steel, and the railroads

• Education

• Healthcare

What is the effect of privatization on economic resources according to the Polish government?

• Decrease in efficiency

• Increase in efficiency

• No change in efficiency

• Decrease in production