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WorksheetsEconomic systems
Total questions: 16
Worksheet time: 14mins
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 allows the government to decide what to produce, how to produce and for whom to produce?
a)
Market
b)
Mixed
c)
Command
d)
Traditional
3.
What type of economic system is based on customs and beliefs?
a)
Market
b)
Mixed
c)
Traditional
d)
command
4.
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.
5.
Oil, natural gas, and coal
a)
human resources
b)
natural resources
c)
entrepreneurship
d)
capital resources
6.
In this type of economy, the individual decides who to sell their products to.
a)
Traditional
b)
Mixed
c)
Market
d)
Command
7.
Who or what answers the basic economic questions in a mixed economy?
a)
Individuals and Businesses
b)
Government
c)
Custom
d)
Individuals, Businesses, and Government
8.
Who or what answers the basic economic questions in a command economy?
a)
Individuals and Businesses
b)
Government
c)
Custom
d)
Individuals, Businesses, and Government
9.
Who or what answers the basic economic questions in a free market economy?
a)
Individuals and Businesses
b)
Government
c)
Custom
d)
Individuals, Businesses, and Government
10.
In which economic system is the protection of private property rights essential?
a)
Command
b)
Traditional
c)
Market
d)
Socialism
11.
In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.
a)
Mixed
b)
Market
c)
Traditional
d)
Command
12.
__________ is an example of a planned/command economy.
a)
Capitalism
b)
Traditional
c)
Uniited States of America
d)
Communism
13.
The closest thing to a planned/command economy today exists in:
a)
Soviet Union
b)
Czechoslovakia
c)
North Korea
d)
South Korea
14.
What is an economic system where only the government makes the economic decisions?
a)
traditional economy
b)
free enterprise
c)
mixed economy
d)
command economy
15.
What are the 3 economic questions?
a)
What to produce? How To Produce? For whom to produce?
b)
Who to produce? Why you produce? Like to produce?
c)
Why to produce? Tell who to produce? Things to produce?
16.
Which economy is dictated by supply and demand and the buyers and sellers?
a)
Market
b)
Socilaism
c)
Mixed
d)
Command
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