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WorksheetsEconomic Systems Practice
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
A command economic system is when the government makes all economic decisions.
a)
True
b)
False
2.
Production is when the government ships goods to another country.
a)
True
b)
False
3.
This picture represents which economic term.
a)
Trade
b)
Exchange
c)
Resources
d)
Production
4.
What is the best definition of human resources?
a)
Resources found in nature
b)
Man – made resources
c)
Jobs that benefit the economy
5.
Which of the following statements is the most accurate?
a)
In a market economy, consumers and buyers control economic decisions
b)
Most people living in a traditional economy embrace technology
c)
Countries that have weak economies tend to have a higher standard of living
d)
North Korea is a market economy
6.
An economic system is the way in which people decide to organize the production and distribution of goods.
a)
True
b)
False
7.
All societies answer the three basic economic questions in the same way.
a)
True
b)
False
8.
In a market economy, only the government decides what goods are produced.
a)
True
b)
False
9.
The United States of America is an example of a traditional economic system.
a)
True
b)
False
10.
The three basic economic questions are: What to produce? How to produce? How to divide labor during the production stage?
a)
True
b)
False
11.
In the clip from Fiddler on a Roof, the village of Anatevka is an example of which type of economic system?
a)
Market Economic System
b)
Mixed Economic System
c)
Command Economic System
d)
Traditional Economic System
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