WorksheetsUnit 1 Review
Total questions: 10
Worksheet time: 6mins
In a ______________ economic system, the government owns resources and controls production, prices, and wages
traditional
market
command
mixed
What is a free market economy?
An economy based on supply and demand with little or no government control
The international exchange of goods
An economy in which decisions are made by the government
An economy that is communist
If the supply of a good is higher than the demand, what happens to the price?
stays the same
price increases
price decreases
a good made in another country and brought into the United States
import
export
supply
"The leader doesn't have to follow the rules and laws. There is no constitution or limits set on the government. The government can take advantage of people."
Which TYPE OF GOVERNMENT is described in this excerpt?
Dictatorship
Democracy
Republic
Constitutional Monarchy
In which economic system is there government ownership of property, government deciding what is produced, NO competition because the government is the only producer, and NO incentive or motivation to be better because the government decides how much money everyone gets paid.
Traditional
Socialist
Communist
Free Enterprise
A ___________ is an organized system of beliefs and practices.
Government
Culture
Religion
Economics
___________ religions are those with a belief in one deity.
Monotheistic
Polytheistic
lines that run east to west around the earth
longitude
latitude
climate
degree
Which is a famous line of longitude?
Prime Meridian
Equator
