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Unit 1 Vocabulary - Economy, Government
Test Description: Culture, Geography, Economy, Government
Instructions: Answer all questions to get your test result.
1) Type of government where, through law, some control is placed on leadership's powers.
A
Socialism
B
Communism
C
Limited Government
D
Unlimited Government
2) Government in which leaders rule without any restrictions.
A
Free Enterprise
B
Limited Government
C
Unlimited Government
D
Democracy
3) the management of the resources of a community, country, etc., especially with a view to its productivity. The way an economic system of a country is arranged
A
Debt
B
Geography
C
Economy
D
Income
4) an economic system in which the government makes decisions about what to produce
A
Mixed Economy
B
Free Enterprise System
C
Command Economy
D
Traditional Economy
5) an economic system in which both the government and individuals play important roles about what to produce
A
Mixed Economy
B
Command Economy
C
Free Enterprise System
D
Traditional Economy
6) economic system that operates on free competition, in which people start and own businesses with limited government intervention. Market Economy - economy driven by forces including competition, supply, and demand
A
Mixed Economy
B
Free Enterprise System
C
Traditional Economy
D
Command Economy
7) people do the same job that their parents did. Many people are simple farmers who grow just enough food to feed their families and most communities make what they need locally
A
Command Economy
B
Mixed Economy
C
Free Enterprise System
D
Traditional Economy
8) Money owed by a nation's government
A
Personal Debt
B
GDP
C
National Income
D
National Debt
9) development of a world culture and interdependent world economy
A
Globalization
B
Scarcity
C
Cultural Borrowing
D
Cultural Diffusion
10) industry that provides services like banking, education, and tourism to people rather than producing goods
A
Globalization
B
Manufacturing
C
GDP
D
Service Industry
*select an answer for all questions
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