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Worksheets2019 Economics Test Review
Total questions: 14
Worksheet time: 15mins
Who makes economic decisions in a free enterprise (market) economy?
Government officials
Entrepreneurs
Executive branch
Who is an entrepreneur?
capital resource
land resource
business owner
Who owns businesses in a command (communist) economy?
entrepreneurs
people
government
Which economic system is controlled by the government?
free enterprise
command
Which of the following is true about the free enterprise/market economy?
There is competition.
People control and own businesses and private property.
People are motivated by profit.
All of the above
What is government’s role in a command economy?
It centrally directs the economy
It barters for goods
Number of people that can read and write is called
GDP
life expectancy
literacy rate
Longer life expectancy is associated with a(n)
developed country
underdeveloped country
High GDP per capita (person) will be associated with
a developed country
an underdeveloped country
The money made from all goods and services sold in a country in a year is called
life expectancy
GDP
infant mortality
Countries with high GDP, high literacy rate, and longer life expectancy are called
less developed
poor
developed
GDP per capita is
how long people live
how many babies die
average amount of money a person makes in a year
In Zimbabwe GDP per capita is $400 dollars in a year, life expectancy is 47 years, and infant mortality is 31 babies out of 1,000. Based on the data, we can conclude that Zimbabwe is
a more developed country
an underdeveloped country
Country A has scarcity of of butter and abundance of trucks. Country B has scarcity of trucks and has plenty of cows. What will most likely happen between the two countries?
Nothing
Country A and B will trade products with each other.
