ECONOMICS QUIZ 2022-2023

The choices people make are determined by the environment.

• Traditional
• Market
• Command
• Mixed

Consumers have few, if any, choices in the marketplace.

• Traditional
• Market
• Command
• Mixed

Factories are solely concerned with quotas (production numbers that are set).

• Traditional
• Market
• Command
• Mixed

No competition.

• Traditional
• Market
• Command
• Mixed

Economic activities are centered on the family, tribe, or ethnic group.

• Traditional
• Market
• Command
• Mixed

Resources are handed out based on inheritance (passing down).

• Traditional
• Market
• Command
• Mixed

The government or other central authority makes all economic decisions.

• Traditional
• Market
• Command
• Mixed

The government (or central authority) sets all prices of goods and services.

• Traditional
• Market
• Command
• Mixed

Economic decisions are made by individuals who compete to make profits based on supply and demand.

• Traditional
• Market
• Command
• Mixed

The government and individuals share the economic decision-making process.

• Traditional
• Market
• Command
• Mixed