WorksheetsEconomies of the World
Total questions: 45
Worksheet time: 27mins
Name
Class
Date
1.
Which type of economy has the government control all of what to produce, companies, and goods?
a)
Traditional
b)
Autocracy
c)
Mixed
d)
Command
2.
Which of the following has the citizens and supply and demand control all of the economy without any government influence what-so-ever?
a)
Command
b)
Traditional
c)
Confederacy
d)
Market
3.
The native tribes of Brazil in the Amazon Rain Forest still barter for goods and do not have a currency. Which type of economy do these people use?
a)
Mixed
b)
Market
c)
Traditional
d)
Command
4.
Which of the following is an example of an export for the USA?
a)
America sells paper to Germany
b)
Germany sells printers to America
c)
America sells printers to central Florida
d)
South Africa buys meat from Chile
5.
Which type of economy does not always use money?
a)
Market
b)
Traditional
c)
Command
d)
Mixed
6.
Which type of economy is based on traditions and beliefs?
a)
Command
b)
Market
c)
Traditional
d)
Mixed
7.
Which type of economy is usually paired with a Communist government?
a)
Mixed
b)
Market
c)
Command
d)
Traditional
8.
Which type of economy is run by the businesses & business owners?
a)
Command
b)
Mixed
c)
Communist
d)
Market
9.
Which type of economy is controlled by the government?
a)
Command
b)
Market
c)
Mixed
d)
Democratic
10.
What type of economy does the USA have?
a)
Mixed
b)
Market
c)
Command
d)
Traditional
11.
If a country has NO government regulations and is controlled by the people/market then it has what type of economy?
a)
Command
b)
Market
c)
Mixed
d)
Traditional
12.
This economic system is based on freedom of the individual.
a)
Socialism
b)
Communism
c)
Capitalism
13.
Which type of economy involves trading, and doesn't usually use money?
a)
Command
b)
Traditional
c)
Market
d)
Mixed
14.
Which type of economy lets the private businesses make all of the decisions?
a)
Market
b)
Mixed
c)
Command
d)
Traditional
15.
When Russia was the Soviet Union, they had a Command economy because of their _____________ government.
a)
Communist
b)
Democratic
c)
Oligarchy
16.
Which type of economy would the Native American Indians have had?
a)
Command
b)
Mixed
c)
Market
d)
Traditional
17.
Would you want the GDP of your country to be HIGH or LOW?
a)
High
b)
Low
18.
What is one basic question of economics?
a)
What will be produced?
b)
Who acquires what goods and services?
c)
What resources are available?
d)
What is the opportunity cost?
19.
What is the definition of economics?
a)
the branch of knowledge concerned with the production, consumption, and transfer of wealth.
b)
the branch of knowledge concerned with only selling items.
20.
What is a traditional economy?
a)
an economy in which production, investment, prices, and incomes are determined centrally by a government.
b)
An economic system based on culture and traditional values
c)
an economic system combining private (people) and public (government) enterprise.
d)
an economic system in which decisions and the pricing of goods and services are made by the individual citizens and businesses.
21.
What is a command economy?
a)
an economy in which production, investment, prices, and incomes are determined centrally by a government.
b)
An economic system based on culture and traditional values
c)
an economic system combining private (people) and public (government) enterprise.
d)
an economic system in which decisions and the pricing of goods and services are made by the individual citizens and businesses.
22.
What is a market economy?
a)
an economy in which production, investment, prices, and incomes are determined centrally by a government.
b)
An economic system based on culture and traditional values
c)
an economic system combining private (people) and public (government) enterprise.
d)
an economic system in which decisions and the pricing of goods and services are made by the individual citizens and businesses.
23.
What is a mixed economy?
a)
an economy in which production, investment, prices, and incomes are determined centrally by a government.
b)
An economic system based on culture and traditional values
c)
an economic system combining private (people) and public (government) enterprise.
d)
an economic system in which decisions and the pricing of goods and services are made by the individual citizens and businesses.
24.
What is a producer?
a)
is an expression of a financial plan for a defined period of time.
b)
a person who purchases goods and services for personal use.
c)
a person, company, or country that makes, grows, or supplies goods or commodities for sale.
d)
the state of being in short supply; shortage.
25.
What is a consumer?
a)
is an expression of a financial plan for a defined period of time.
b)
a person who purchases goods and services for personal use.
c)
a person, company, or country that makes, grows, or supplies goods or commodities for sale.
d)
the state of being in short supply; shortage.
26.
What is scarcity?
a)
is an expression of a financial plan for a defined period of time.
b)
a person who purchases goods and services for personal use.
c)
a person, company, or country that makes, grows, or supplies goods or commodities for sale.
d)
the state of being in short supply; shortage.
27.
If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy.
a)
Traditional
b)
Market
c)
Command
d)
Mixed
28.
There are four types of economic systems. Most economies are _____.
a)
Traditional
b)
Command
c)
Market
d)
Mixed
29.
In this type of economy, the individual decides who to sell their products to.
a)
Traditional
b)
Mixed
c)
Market
d)
Command
30.
This type of government typically goes with the Command Economy.
a)
Democracy
b)
Dictatorship
c)
Autocracy
d)
Communism
31.
The government has little to no role in the production of goods in this type of economy.
a)
Traditional
b)
Mixed
c)
Command
d)
Market
32.
If there are only 100 televisions on sale and 200 people want to buy TV's, that is a problem of ____.
a)
desire
b)
demand
c)
supply
d)
scarcity
33.
I am a farmer in Africa, and have always traded for my goods. I have a _____ economy.
a)
Traditional
b)
Command
c)
Market
d)
Mixed
34.
In this type of economy, the government places control on businesses, but the individual decides what to make.
a)
Mixed
b)
Market
c)
Command
d)
Traditional
35.
In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy?
a)
Traditional
b)
Market
c)
Command
d)
Centrally planned
36.
The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?
a)
Traditional
b)
Market
c)
Command
d)
Centrally Planned
37.
The government controls the factors of production in which type of economic system
a)
Command
b)
Mixed
c)
Market
d)
Traditional
38.
A rural family who has been farming for generations and generally uses only what it produces without much outside help best represents which type of economic system
a)
Traditional
b)
Command
c)
Capitalist
d)
Mixed
39.
What type of economic system allows private businesses to decide what to produce, how to produce and for whom to produce?
a)
Market
b)
Mixed
c)
Command
d)
Traditional
40.
What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?
a)
Market
b)
Mixed
c)
Command
d)
Traditional
41.
What type of economic system is based on customs and beliefs?
a)
Market
b)
Mixed
c)
Traditional
d)
command
42.
A system that uses bartering or trading.
a)
Mixed
b)
Market
c)
Traditional
d)
command
43.
The four types of economic systems are:
a)
Traditional, Command, Mixed, & Market
b)
Traditional, Command, Combined, & Market
c)
Communism, Capitalism, Free Market, and Macroeconomics
d)
Microeconomics, Macroeconomics, Individual, and Traditional.
44.
What type of economy do most countries in the world have?
a)
Market economy
b)
Command economy
c)
Traditional economy
d)
Mixed economy
45.
What type of economy do most countries in the world have?
a)
Market economy
b)
Command economy
c)
Traditional economy
d)
Mixed economy
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