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WorksheetsWorld Economic Systems
Total questions: 20
Worksheet time: 40mins
A _____________ economy is completely determined and controlled by a central planning authority or the government
Traditional
Command
Mixed
Market
A ______________ economy is guided primarily by custom, habit, and ritual.
Traditional
Command
Mixed
Market
Moana's village would be an example of a ___________ economy.
Traditional
Planned/command
Mixed
Free-market
A _____________ economy is driven entirely by voluntary exchange in markets
Traditional
Command
Mixed
Market
A _________ economy is a market-based system in which the government is involved to some extent.
Traditional
Command
Mixed
Market
The vast majority of the world's economies are mixed - they are market based economies with some extent of government involvement.
True
False
A Trade Bloc is:
A group of countries refusing to trade with another country.
An agreement between countries to trade their goods.
A group of rich countries.
An agreement between poor countries only.
A group of producers who work together to coordinate their production and prices to keep competition low and prices high.
Trade Cartel
Trade Sanctions
Trade Advisory Group
Trade Bloc
The World Trade Organization is an example of which type of trade group?
Trade Bloc
Trade Cartel
Trade Advisory Group
Trade Alliance
An type of industry that involves the extraction of raw materials and resources from the earth.
Primary
Secondary
Tertiary
An industry that deals with manufacturing or the construction of products to be distributed.
Primary
Secondary
Tertiary
An Industry that provides services such as retail, support, or distribution of goods.
Primary
Secondary
Tertiary
Democracy is best described as...
A political system in which a body of citizens elect people to represent them in the government.
A political system that supports the common ownership of the production and distribution of goods and services.
A political system in which the armed forces have the absolute power to rule.
Communism is best described as...
A political system in which a body of citizens elect people to represent them in the government.
A political system that supports the common ownership of the production and distribution of goods and services.
A political system in which the armed forces have the absolute power to rule.
A Military Dictatorship is best described as...
A political system in which a body of citizens elect people to represent them in the government.
A political system that supports the common ownership of the production and distribution of goods and services.
A political system in which the armed forces have the absolute power to rule.
Which of the following countries provides an example of a command economy
Cuba
South Korea
Japan
Germany
A 100% market economy without government involvement doesn't really exist in the modern world.
True
False
