WorksheetsSSEF4 Economic Systems
Total questions: 20
Worksheet time: 40mins
Name
Class
Date
1.
SSEF4 Which is a fundamental questions every society must answer?
a)
What goods and services are to be produced?
b)
How are the goods and services to be produced?
c)
For whom are the goods being produced
d)
All of the above
2.
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.
3.
SSEF4a Which type of economic system would have the least amount of government regulation?
a)
Traditional
b)
Command
c)
Market
d)
Socialist
4.
The United States economy is one in which producers are generally free to produce what they want, and consumers are free to purchase what they desire, so long as no laws are broken.
a)
Market Economy
b)
Command Economy
c)
Liberated Economy
d)
Mixed Market Economy
5.
SSEF4 Jingo was born to be a warrior-hunter, Jingo trades the furs of animals he catches to other families and tribes for many goods. What economic system is this?
a)
Market
b)
Command
c)
Traditional
d)
Capitalist
6.
SSEF4a Consumer sovereignty, profit motive, private ownership, and competition are all most associated with which economic system?
a)
Command
b)
Market
c)
Traditional
d)
None of the above
7.
An economic system based on equity and in which the government decides what gets made and sets prices is called a
a)
market economy
b)
traditional economy
c)
political economy
d)
command economy
8.
SSEF4c We start a new colony on mars and must distribute the scarce resources we have to everyone. We do so by having our leader allocate them as he decides. This strategy for allocating resources would be considered:
a)
Lottery
b)
Authority
c)
Sharing
d)
Majority rule
9.
Supply and demand alone controls production of goods and services?
a)
command economy
b)
communism
c)
pure market
d)
mixed market
10.
Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?
a)
Market economy
b)
Command economy
c)
Traditional economy
d)
Mixed economy
11.
What type of economy do most countries in the world have?
a)
Communist economy
b)
Command economy
c)
Traditional economy
d)
Mixed economy
12.
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
13.
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
14.
The fundamental economic questions that all economies must answer are
a)
Who will rule, who will vote, and who will pay taxes?
b)
What will be produced, how will it be produced, and for whom it will be produced?
c)
Who determines the cost, who will set the prices, and who determines how much is made?
d)
How much will be produced, of what quality it will be, and who will pay for it?
15.
Waiting in line to get the limited amount of items available.
a)
1st Come-1st Serve
b)
Command
c)
Lottery
d)
Rationing
16.
Choosing an item that cost $2.00 cheaper than the original price
a)
Price
b)
Command
c)
Sharing Equally
d)
Lottery
17.
Pulling names out of a hat to see who gets the prize
a)
Price
b)
Lottery
c)
Sharing Equally
d)
Command
18.
Limiting the amount of food a community gets.
a)
Lottery
b)
Command
c)
Rationing
d)
Sharing Equally
19.
An adult, government, or someone in charge decides who gets the scarce resource.
a)
Lottery
b)
1st Come-1st Serve
c)
Rationing
d)
Authority
20.
By age, by weight or height, by ancestry, alphabetically by name, by need, etc.
a)
Random Draw
b)
Fiat
c)
First Come, First Served
d)
Personal Characteristic
100 %
