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Economic Systems

Test Description: See if you can figure out which of the economic systems the question is referring to. Good luck

Instructions: Answer all questions to get your test result.

1) The condition that exists when wants exceeds resources available to satisfy wants.

Acrimes Bpoverty Cscarcity Dstealing

2) The type of resources that are present without human intervention.

Aentrepreneurial resources Bnatural resources Chuman resources Dcapital resources

3) The type of economy that is run by a central government authority.

Atraditional economoy Bmixed economy Ccommand economy Dmarket economy

4) The type of economy where people believe in doing things the way they have in the past.

Acommand Bmarket Ctraditional Dmixed

5) In which economy does men and women have specific roles?

Amixed Bsocialist Ctraditional Dgender

6) Which are goods produced and used to make other goods and services?

Anatural resources Bfood Ccapital resources Dhuman resources

7) Which economy does the U.S. have?

Aall of these Bmixed Cweird Dmarket

8) What is the study of how individuals and societies seek to satisfy needs and wants through choices?

Aeconomics Bergonomics Ceconomicalogicalogistical Decology

9) Which is a disadvantage of a command economy?

Ataxes must be paid Bpromotes illegal business practices Cfewer choices which make less competition Dno cell phones or cable to watch spongebob

10) Which are the four types of economic systems?

Amixed, traditional, command, checkers Btraditional, free enterprise, command, mixed Ccommand, mixed, traditional, resourceful Dnatural, human, capital, entrepreneurial

*select an answer for all questions

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