Font size
WorksheetsTypes of Economic Systems
Total questions: 30
Worksheet time: 26mins
Which of the basic economic systems allow government to control most aspects of the economy?
mixed
command
market
traditional
What influence does the government have in a market economy?
they have limited control of the aspects of the economy
they have no control of any aspects of the economy
they are forced to keep out of economic affairs
both B and C
What is the best definition of a mixed economy?
the least popular type of economic system
an economy that has all three of the other economic systems present
an economic system that has elements of traditional, command, and/or market economies
none of the above
What is a characteristic of a market economy?
markets
private property
competition
all of the above
The main concern of a traditional economic system is …..
to be the most productive society globally
to make private property and competition laws
to support the wants and needs of the individual consumer
to support the basic needs of the society as a whole
Once an economic system is established, what can or cannot be done?
the basic economic questions can be answered
resources can no longer be produced
government can take over the society’s economy
laissez faire economics can begin
What are some negative effects of the traditional economy?
they are always choosing new ideas and technologies
they are inefficient in providing goods and services to the society
they assign jobs based on test scores
all of the above
Traditional Economy Involves bartering or trading
false
true
A command economy is
Based on its citizens
controlled by the government
run by trading and bartering
a mix between traditional and free enterprise
There are 3 types of economies
true
false
which of the following is a country that follows a command economy
U.S.
Canada
U.K
China
what economy is a combonation of a market and command economy?
traditional
mixed
Yes
Command
in my country, consumers have most of the influence and the government enforces rules
traditional
mixed
market
command
Which economic system is it when people decided what to produce, people decide how to produce, and people only produce goods and services for themselves and trading purposes?
Traditional
Command
Market
Mixed
Which type of economic system is it when the market decides what needs to be produced, private businesses decide how to produce, and consumers decide what they are willing to pay for goods?
Traditional
Command
Market
Mixed
The country of North Korea has a dictator that makes almost all of the economic decisions. What type of economy is this?
Traditional
Market
Command
Centrally Planned
To trade goods
Taxes
Barter
Service
Producer
Market
Market
Market Economy
In my country, business is based on competition. Success comes from doing something better and cheaper than your competitors.
Traditional
Command
Market
Mixed
In my country, central planners decide when we should expand old factories and build new ones.
Traditional
Command
Market
Mixed
In my country, I know that all my needs will be met, but not my wants.
Traditional
Command
Market
Mixed
In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.
Traditional
Command
Market
Mixed
,In my country, the government tells me where to work.
Traditional
Command
Market
Mixed
