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BE 2.03-2.05 Test

Authored by Diane Coffing

Business

9th Grade

Used 6+ times

BE 2.03-2.05 Test
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________________: an economic system in which all or many of the means of production and distribution are owned and controlled by the government.

A. market economy

B. command economy

C. socialism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________: a command economic system in which the government controls the economic system and does not allow private ownership of the means of production and distribution.

A. communism

B. market economy

C. socialism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________: the organized way in which a country handles its economic decisions and solves its economic problems.

A. economic system

B. market economy

C. traditional economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________________: an economic system in which the questions of what, how, and for whom goods will be produced are answered by individuals and businesses in the marketplace.

A. market economy

B. traditional economy

C. command economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under which type of economy does the government own the basic means of production, but with some private ownership of businesses?

A. command

B. communism

C. entrepreneurship

D. socialism

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What economy is based on public or governmental ownership of the production and distribution of goods?

capitalist

mixed

socialist

traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a socialist economy, what determines how basic economic questions are answered?

government

products

resources

retailers

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