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Economics Review
Test Description: Reviewing economic terms and concepts
Instructions: Answer all questions to get your test result.
1) Which type of economic system has the government choosing everyone's job?
A
Command
B
Market
C
Mixed
D
Traditional
2) A market economy is based upon...
A
Workers and Pay
B
Trade and Money
C
Cost and Profit
D
Supply and Demand
3) Which is true about a Command economy?
A
Everyone earns the same
B
People need to supply their own housing and education
C
You earn more money if you do a great job
D
The United States is an example
4) Cuba, China, and North Korea all have...
A
A traditional economy
B
No economy
C
A market economy
D
A command economy
5) Which is true about traditional economies?
A
They are found in poor nations
B
China has one
C
People are quick to use new ideas and technology
D
Workers are urged to work quickly
6) Which economic system has people motivated by profit and competition?
A
They all do
B
Market
C
Traditional
D
Command
7) Most countries in the world have...
A
None of these
B
A traditional system
C
A market system
D
A command system
8) In which economy do people have the same jobs as their ancestors?
A
None of these
B
Traditional
C
Market
D
Command
9) Which is FALSE about a Mixed Economy?
A
You can mix command and traditional economies
B
It's not as common as plain market economies
C
You can mix command and market economies
D
You can mix traditional and market economies
10) Latitude measures how far from ____________________ you are.
A
North America
B
The Atlantic Ocean
C
The Prime Meridian
D
The equator
11) A ___________________ map highlights land features
A
Country
B
Political
C
Thematic
D
Physical
12) A relative location tells...
A
The lines of latitude and longitude
B
The exact coordinates
C
How far one place is from another
D
Which continent something is on
13) Lines of longitude run...
A
North and East
B
South and West
C
North and South
D
East and West
14) On a map, a ____________ tells you the distance one inch equals.
A
Compass Rose
B
Key
C
Title
D
Scale
15) Africa is bordered by these two oceans...
A
Atlantic and Indian
B
Indian and Pacific
C
Pacific and Arctic
D
Atlantic and Pacific
*select an answer for all questions
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