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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
production cost
C
economic system
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
A country's population
B
The extent of government involvement
C
The diversity of the county
D
The country's leaders
3) Government ownership of resources is a characteristic of what economic system?
A
Traditional
B
Free Market
C
Mixed
D
Command
4) Who has the most influence in a free market economic system?
A
Government
B
Lawyers
C
Consumers
D
Producers
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
Traditional
B
Command
C
Free Market
D
Mixed
6) Who makes decisions for the private sector in a mixed economy?
A
State and local government
B
Individuals and businesses
C
Government and business
D
Individuals and government
7) Which statement describes how a command economic system determines what will be produced?
A
Sporty Motors will produce more of the most popular model bought in the past year
B
Sporty Motors will produce a set number of cars each month that can be traded for tractor parts
C
The government will allow Sporty Motors to keep all profits earned each month to promote growth
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
Command
B
Mixed
C
Traditional
D
Free market
9) Private ownership of property or resources, profit motive, competition, consumer sovereignty, and little government involvement describe what kind of economy?
A
Command
B
Free market
C
Traditional
D
Mixed
10) Businesses, individuals, and government make economic decisions in which type of economic system?
A
Free Market
B
Mixed
C
Command
D
Traditional
*select an answer for all questions
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