Free Printable Unit 2: Economic Systems

Worksheets

Unit 2: Economic Systems

Total questions: 21

Worksheet time: 32mins

Name

Class

Date

What is a Producer

A Producer is a person or entity responsible for the overall management of a project.

A Producer is a person who only handles finances for a project.

A Producer is a type of software used for video editing.

A Producer is a term used in agriculture to describe a type of crop.

What is a Distributor?

A Distributor is a person who manufactures products and sells them directly to consumers.

A Distributor is a person who only buys products from retailers and resells them to consumers.

A Distributor is a person or entity that buys products from manufacturers and sells them to retailers or consumers.

A Distributor is a person who provides services to manufacturers but does not involve in selling products.

What is a Consumer?

A software program used for data analysis

A government agency that regulates businesses

A type of financial institution

An individual or entity that purchases goods or services for personal use or consumption.

What is Labor

Labor is a type of currency

Labor is a type of insect

Labor is the physical or mental effort exerted to produce goods or services.

Labor is a type of food

What are Resources?

Resources are liabilities that hinder progress

Resources are only physical objects

Resources are assets or materials that can be used to achieve a goal or fulfill a need.

Resources are intangible concepts

What is Capital?

Capital is financial assets used for making the products

Capital is a type of money

Capital is a product revenue

Capital is a money currency

What is Laiseez Faire?

Strict regulations on economic activities

Term of government affairs

The less the government is involved in the economy, the better off businesses will be, and by extension, society as a whole

The more government is involved in the economy, the better off businesses will be, and by extension, society as a whole

What is a Mixed Economy?

A mixed economy combines elements of both capitalism and socialism.

A mixed economy is solely based on capitalism.

A mixed economy can be a combination of different economic systems

What is an Traditional Economy?

A Traditional Economic System is controlled by a central government.

A Traditional Economic System is based on modern technologies and innovations.

A Traditional Economic System is focused on maximizing profits and economic growth.

A Traditional Economic System is based on customs, traditions, and beliefs that have been passed down through generations.

10.

What is an Market Economy?

A market economy is an economic system where decisions are made by the government without any market influence.

A market economy is an economic system where supply and demand have no impact on decision-making.

A market economy is an economic system where the government controls all aspects of production and distribution.

A market economy is an economic system where decisions regarding investment, production, and distribution are based on supply and demand in the market, with minimal government intervention.

11.

What is an Command Economy?

A command economy is an economic system in which individuals make all decisions about the production and distribution of goods and services.

A command economy is an economic system in which the market determines all decisions about the production and distribution of goods and services.

A command economy is an economic system in which businesses make all decisions about the production and distribution of goods and services.

A command economy is an economic system in which the government makes all decisions about the production and distribution of goods and services.

12.

What country is an example of a Mixed Economy?

North Korea

France

Vietnam

13.

What country is an example of a Market Economy

China

Russia

Germany

United States

14.

What country is an example of a Traditional Economy?

North Korea

Haiti

China

15.

What country is an example of a Command Economy?

China

North Korea

Cuba

Russia

16.

What is an Socialism Economy?

An socialism economy is an economic system where the means of production, distribution, and exchange are owned or regulated by the community as a whole.

An socialism economy is an economic system where resources are allocated based on market demand.

An socialism economy is an economic system where the government controls all aspects of production.

An socialism economy is an economic system where the means of production are owned by individuals.

17.

What is a Capitalism Economy

An economic system where profit is not a motive for production

An economic system where private individuals own the means of production and operate them for profit.

An economic system where individuals cannot own property

An economic system where the government owns all means of production

18.

What is a Communism Economy?

An economic system where the means of production are owned and controlled by a group of corporations

An economic system where the means of production are owned and controlled by the state or the community as a whole.

An economic system where the means of production are owned and controlled by a single individual

An economic system where the means of production are owned and controlled by private individuals

19.

What country is an example of a Socialism Economy?

India

Japan

Canada

Germany

20.

What Country is an example of a Capitalism Economy?

China

Russia

Germany

United States

21.

What country is an example of a Communism Economy?

North Korea

Russia

Soviet Union

Germany

Reset

Unit 2: Economic Systems

Total questions: 21

Worksheet time: 32mins

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