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Worksheets4 Type of Economic Systems
Total questions: 10
Worksheet time: 15mins
Name
Class
Date
1.
The four types of economic systems are:
a)
Traditional, Command, Mixed, & Market
b)
Microeconomics, Macroeconomics, Individual, and Traditional.
2.
Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?
a)
Traditional economy
b)
Mixed economy
3.
Which of the following is an economic system in which economic decisions are made according to social roles & culture?
a)
Traditional economy
b)
Mixed economy
4.
What is an economic system where only the government makes the economic decisions?
a)
mixed economy
b)
command economy
5.
The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?
a)
Command
b)
Centrally Planned
6.
Which economy is dictated by supply and demand and the buyers and sellers (consumers and producers)?
a)
Market
b)
Command
7.
If I choose to be a fisherman for my town because my father was a fishermen, and my grandfather was a fisherman what economic system is this?
a)
Mixed
b)
Market
c)
Traditional
d)
Command
8.
There are four types of economic systems. Most economies are _____.
a)
Traditional
b)
Command
c)
Market
d)
Mixed
9.
The government has little to no role in the production of goods in this type of economy.
a)
Traditional
b)
Mixed
c)
Command
d)
Market
10.
The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?
a)
Traditional
b)
Market
c)
Command
d)
Mixed
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