Economics and Government Systems Quiz

In this type of economy, citizens decide what to buy and sell with little or no government intervention.

• Market

• Planned

• Traditional

• Normal

The King and/or Queen are often also called by this name, which means they have no power.

• Head of Government

• Prime Minister

• President

• Head of State

What is the name of the system of government in which citizens can vote for the legislators and the President?

• Presidential democracy

• Parliamentary democracy

• Autocracy

• Oligarchy

In this type of economy, citizens have no participation in what the government imports and exports.

• Market

• Command

• Traditional

• Normal

The machines used to make products and goods are known as ______________?

• Capital goods

• Resources

• Equipment

• Devices

What is the name of the leader in a parliamentary democracy?

• Leader

• Prime Minister

• President

• King/Queen

A government that works together is?

• fusion of powers

• separation of powers

• president

• allies

How is an entrepreneur defined?

• Someone who works for a company

• A person who runs a business

• A person who organizes and manages their own business

• Someone who builds a business

The three main trade barriers are __________, ____________ and __________?

• Embargo, Tariff, Quota

• Maintain, Sell, Buy

• Trade, Lease, Buy

• Own, Rent, Lease

• Import, Export, Ship

The cost of making a decision is known as?

• Opportunity cost

• Monetary cost

• Personal cost

• Friendly cost