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Economic Systems And Australia
Test Description: SS6E8
Instructions: Answer all questions to get your test result.
1) Decentralized planning, adjustments to changes in the market, and producers and consumers controlling the economy represent a ____ economy.
A
market
B
command
C
traditional
D
socialist
2) Consumers, producers, buyers, and sellers participate in Australia's economy, but the government makes some safety and manufacturing standardstandards. This represents a _____ economy.
A
tradtional
B
command
C
mixed
D
market
3) Which of the following countries has more economic freedom, being closer to the market end of the continuum.
A
Cuba
B
United States
C
Australia
D
Germany
4) Strong elements of the ____ economy are found in the Aboriginal culture.
A
command
B
traditional
C
socialist
D
market
5) A government that makes all of the economic decisions about what to produce, how to produce, and for whom to produce is a _______ economy.
A
traditional
B
mixed
C
command
D
market
6) In reality, no country has a pure command or pure market economy so it can be said that all countries have a _____ economy with varying extents of government involvement.
A
traditional
B
mixed
C
market
D
command
7) Australia has an economic system where
A
most Australians do not want to start a business for fear that the government will take it away and make the profit.
B
it is easy to begin a business, and laws are enforced that protect the rights and property of business owners.
C
where all people exist in a traditional society and elders make economic decisons based on custom.
D
it is difficult for individuals to start their own businesses.
8) A way that the government of a country could make its economy more market would be to
A
add a $100 fee to all imported i-phones.
B
allow the price of i-phones to be set by supply and demand.
C
limit computers imported into the country.
D
banning imported computers from being sold in a country.
9) Who decides what goods will be produced in Australia?
A
other countries
B
business owners
C
the government
D
all citizens
10) Australia's economy can best be described as
A
command
B
mixed market
C
market
D
mixed command
*select an answer for all questions
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