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WorksheetsTypes of Economies & Econ Sectors
Total questions: 40
Worksheet time: 40mins
What three questions need to be answered to determine an economic system?
What to produce, how to produce it, and who gets it
Where to produce, when to produce it, and why it is produced
Who to produce for, how much to produce, and when to produce it
Why to produce, where to produce, and who gets it
In a command economy, who controls the factors of production?
The government
Private individuals
Foreign corporations
Non-profit organizations
What is the concept of the invisible hand in a free market economy?
Individuals and businesses meet society's needs when they seek their own self-interest
Government controls all economic activities
Consumers have no choice in the products they buy
Businesses prioritize social welfare over profits
What is the role of the government in a free market economy?
Maintain the rule of law, provide public goods and services, and regulate markets
Control all aspects of production and distribution
Ensure equal distribution of wealth
Minimize government intervention in the economy
Which countries have mixed economies?
Almost all countries
North Korea and Cuba
United States and China
Denmark and Canada
In which economic system is the economy COMPLETELY controlled by the government?
capitalism
socialism
communism
anarchism
In which economic system do private individuals control the economy?
capitalism
socialism
communism
anarchism
Minimum wage laws and product-labeling laws would likely be found in which form of capitalism?
laissez-faire capitalism
mixed economy
anarcho-capitalism
feudalism
An organized way of providing for the wants and needs of a society.
Mixed Economy
Socialism
Economic System
Capitalism
Economic system in which private citizens own and use the factors of production to generate profits.
Traditional Economy
Capitalism
Communism
Market Economy
In my country, the government makes all the economic decisions.
Traditional
Command
Market
Mixed
,In my country, the government tells me where to work.
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 there is a private sector and a public sector.
Traditional
Command
Market
Mixed
In my country, there is little economic growth because we do not use any new technologies.
Traditional
Command
Market
Mixed
What are the three basic questions that all societies need to answer?
Who, When, Where
What, How, For Whom
Which, How, Whose
Why, How, What
which sector of the economy removes or harvest products directly from the earth in order to extract raw materials or food?
secondary
primary
tertiary
linear
3 types of tertiary jobs
banker,teachers,doctor
doctor,teacher,steel making
fishing,hunting,astronaut
agriculture would be an example of
secondary sector
tertiary sector
primary sector
insurance is an example of
primary sector
agriculture
tertiary sector
How many economic sectors are there?
0
4
3
This image represents which economic sector?
Tertiary Sector
Secondary Sector
Primary Sector
Quaternary Sector
This image represents which economic sector?
Primary Sector
Quinary Sector
Secondary Sector
Tertiary Sector
A CEO of a large Transnational Corporation (TNC) operates in which industry sector?
Primary
Secondary
Quaternary
Quinary
worker in a factory
primary
secondary
tertiary
quaternary
quinary
salesperson at a cell phone store
primary
secondary
tertiary
quaternary
quinary
stockbroker (advises investors on stocks)
primary
secondary
tertiary
quaternary
quinary
coal miner
primary
secondary
tertiary
quaternary
quinary
