WorksheetsFour Economic Systems
Total questions: 10
Worksheet time: 8mins
Name
Class
Date
1.
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
2.
What type of economic system is based on customs and beliefs?
a)
Market
b)
Mixed
c)
Traditional
d)
command
3.
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.
4.
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
5.
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
6.
________ is the most basic or fundamental economic problem.
a)
Scarcity
b)
Labor
c)
Greed
d)
Capital
7.
What type of economy do most countries in the world have?
a)
Market economy
b)
Command economy
c)
Traditional economy
d)
Mixed economy
8.
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
9.
If you tell me a price on something and I offer you a different price, this is an example of what kind of economy?
a)
Traditional
b)
Command
c)
Market
d)
Mixed
10.
There are four types of economic systems. Most economies are _____.
a)
Traditional
b)
Command
c)
Market
d)
Mixed
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