Economics 101: Question Preview (ID: 22281)


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This economy has private business owners, driven by the consumers, supply and demand.
a) Command b) Market c) Mixed d) Traditional
An economy that is a combination of market and command.
a) Command b) Market c) Mixed d) Traditional
This economy is based on the traditions and customs of the people, natural resources.
a) Command b) Market c) Mixed d) Traditional
This economy is controlled by the government.
a) Command b) Market c) Mixed d) Traditional
The government makes all decisions in this economy.
a) Command b) Market c) Mixed d) Traditional
Your government controls the steel industries, but allows individual companies to make and sell whatever they choose.
a) Command b) Market c) Mixed d) Traditional
In this country business owners are free to make and sell whatever they wish with no government control.
a) Command b) Market c) Mixed d) Traditional
This economy is based on what people’s ancestors have always done.
a) Command b) Market c) Mixed d) Traditional
The government controls tells the factories what to make, how to make it, and what price to charge.
a) Command b) Market c) Mixed d) Traditional
The tribes of the Amazon Rainforest practice this economy.
a) Command b) Market c) Mixed d) Traditional
This country practices the free enterprise system, but the government makes some decisions about the economy.
a) Command b) Market c) Mixed d) Traditional
This country has business owners and customers that make decisions about what to make, sell, and buy.
a) Command b) Market c) Mixed d) Traditional
This country has a communist government that makes the choice of what goods to produce.
a) Command b) Market c) Mixed d) Traditional
The study of the production, distribution, and use of goods and services.
a) Economy b) Economics c) Economic Platform d) Economic Systems
A limited supply of something.
a) limitations b) dense c) scarcity d) supply and demand
All of the activities people do to earn a living are part of the ?
a) world b) economy c) economics d) budget
The total value of all the goods and services produced in one country.
a) supply and demand b) per capita c) economic system d) Gross Domestic Product/ GDP
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