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WorksheetsEconomic Systems
Total questions: 14
Worksheet time: 7mins
What economic system has the most government control?
traditional
free market
command
mixed
In which government system does the government have a "hands off: or "laiszez-faire" approach to the economy?
command
traditional
free market
mixed
In which economic system do societies make goods based on tradition?
traditional
command
mixed
free market
In which of the following systems is progress stressed the most?
command
free market
tradtional
In which economic system are good produced based on what the government believes needs to be made?
command
market
tradtional
mixed
In what economic system do people not make technological or scientific advancements to their products, but instead use traditional means of production?
mixed
command
traditional
free market
What country is the best example of a command economy in the world right now?
Hong Kong
New Zealand
North Korea
China
What type of economy does the U.S. have?
mixed
traditional
free market
command
What are the 3 main roles in any economic system?
producer, consumer, and government
traditional, command, and free market
buyer, consumer, earner
seller, producer, manufacturer
What is the problem that consumers have?
they have unlimited resources and limited wants
they have unlimited wants, but limited resources
they have too much money
they have to get a job
What motivates people to work in a command economy?
demands
social acceptance and pressure
in order to get a lot of money
government
I am sick, so I stay home from work. What was my opportunity cost?
Hanging out with my puppy at home
Watching Netflix on my couch at home
Teaching my lovely students at school
Eating pancakes at home
What is one disadvantage of the free market economic system?
There is no middle class of people. Most people are super poor, while some people are super rich.
People have no choice
People have no motivation
Most people are super rich, and very few are poor
What is one disadvantage of a command economy?
People have too much choice
People love the government
People do not have motivation because they do not make a lot of money
there is no one super poor or super rich
