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CE 11 Review #2
Test Description: SOL Review for CE 11 with a focus on CE 11b.
Instructions: Answer all questions to get your test result.
1) The way a country deals with the production, distribution, and consumption of goods and services within its society is known as its?
A
government
B
economic system
C
production cost
D
entrepreneurship
2) There are different types of economic systems. The one that a country develops for the use of its limited productive resources depends mainly on?
A
The extent of government involvement
B
A country's population
C
The country's leaders
D
The diversity of the county
3) Government ownership of resources is a characteristic of what economic system?
A
Mixed
B
Command
C
Traditional
D
Free Market
4) Who has the most influence in a free market economic system?
A
Producers
B
Consumers
C
Lawyers
D
Government
5) An economy where communities use simple tools and methods to harvest and hunt for food often results in little economic growth describes which type of economy?
A
Mixed
B
Command
C
Free Market
D
Traditional
6) Who makes decisions for the private sector in a mixed economy?
A
Government and business
B
State and local government
C
Individuals and government
D
Individuals and businesses
7) Which statement describes how a command economic system determines what will be produced?
A
The government will allow Sporty Motors to keep all profits earned each month to promote growth
B
Sporty Motors will produce a set number of cars each month that can be traded for tractor parts
C
Sporty Motors will produce more of the most popular model bought in the past year
D
The leaders of government will determine how many cars Sporty Motors produces each month
8) What type of economic system does the U.S. have?
A
Free market
B
Traditional
C
Mixed
D
Command
9) Private ownership of property or resources, profit motive, competition, consumer sovereignty, and little government involvement describe what kind of economy?
A
Mixed
B
Traditional
C
Command
D
Free market
10) Businesses, individuals, and government make economic decisions in which type of economic system?
A
Traditional
B
Command
C
Mixed
D
Free Market
*select an answer for all questions
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