WorksheetsSS7E1, SS7E4, SS7E7: Economic Systems
Total questions: 9
Worksheet time: 5mins
Name
Class
Date
1.
An economic system is a way in which people decide to organize the production, distribution, and consumption of goods and services.
a)
true
b)
false
2.
What, how, and for whom to produce are the basic economic questions that every society must answer.
a)
true
b)
false
3.
All societies answer the three basic questions in the same way.
a)
true
b)
false
4.
Most societies have some type of mixed economy.
a)
true
b)
false
5.
In a market economy, only the government decides what goods are produced.
a)
true
b)
false
6.
In a command economy, consumer purchasing decides what goods and services are produced.
a)
true
b)
false
7.
In a command economy, the government decides how the goods will be produced and distributed.
a)
true
b)
false
8.
In a market economy, decisions regarding production and consumption result from the interaction of consumers and producers.
a)
true
b)
false
9.
In a traditional economy, custom and habit determine economic decisions.
a)
true
b)
false
100 %
