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Ch1 Economic Systems

Total questions: 13

Worksheet time: 10mins

Name
Class
Date
1.
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 
2.

In this type of economy, the individual decides who to sell their products to.

a)

Traditional

b)

None of these

c)

Market

d)

Command

3.

The government has little to no role in the production of goods in this type of economy.

a)

Traditional

b)

None of these

c)

Command

d)

Market

4.

In my country my job is the same one that my family has done over the past 200 years.

a)

Traditional

b)

Command

c)

Market

d)

None of these

5.

In my country, the government makes all the economic decisions.

a)

Traditional

b)

Command

c)

Market

d)

None of these

6.

,In my country, the government tells me where to work.

a)

Traditional

b)

Command

c)

Market

d)

None of these

7.

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.

a)

Traditional

b)

Command

c)

Market

d)

None of these

8.

If I choose to produce fish for my town because my mom and dad were fishermen/women, what economic system is this?

a)

None of these

b)

Market

c)

Traditional

d)

Command

9.

What economy workforce based on beliefs and customs.

a)

Traditional

b)

Command

c)

Market

d)

None of these economies

10.

What economy will most likely not have modern medicine and advance technology?

a)

Traditional

b)

Command

c)

Market

d)

None of these

11.

What is one advantage of a Command Economy?

a)

Individual freedom for everyone

b)

Health and public services are available to everyone at little or no cost.

c)

The government rarely interferes.

d)

Able to adjust to change gradually

12.

What economic system rules like a King?

a)

Traditional

b)

Command

c)

Market

d)

None of these

13.

Which economic system allows individual freedom for every buyer and seller to pick whom they want to buy or sell to?

a)

Traditional

b)

Command

c)

Market

d)

None of these