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33. Types Of Economies
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) Which not a type of economy?
A
mixed
B
democratic
C
free
D
command
2) Which pair is incorrect?
A
Free = China
B
Mixed = USA
C
Command = Cuba
D
Free = Australia
3) Which is not a characteristic of a command economy?
A
Private propety
B
government makes all of the economic decisions
C
lots of government involvement
D
No compeititon
4) Which is not a characteristic of a command economy?
A
lots of government involvement
B
no profits
C
individual choice
D
government owns all property
5) Which is not a characteristic of a free economy?
A
government owns all property
B
little government involvement
C
individual choice
D
competition
6) Which is not a characteristic of a free economy?
A
profit driven
B
consumer sovereignty
C
little government involvement
D
no competition
7) Which is not associated with a command economy (communism)?
A
free healthcare
B
Individuals get to choose what they buy, sell, and produce
C
government regulation of everything
D
limited choices (i.e. instead of hundreds of restaurants there is just one restuarant )
8) Which is not associated with a free economy (capitalism or a free market as in free of government interference)?
A
quality is better and price is lower because businesses compete
B
healthcare is not free; if you pay more you get better quality, pay less then get less
C
Everyone gets free stuff
D
government does not interfere with businesses and consumer choices
9) In a mixed economy _____________
A
the government makes all decisions
B
decisions are based on survival
C
the government makes some decisions (public sector) and individuals and business make some choices (private sector)
D
the government is not involved
10) Economies around world fall somewhere on the spectrum between command (Communism) and free (capitalism)
A
False
B
True
*select an answer for all questions
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