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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.
A
poverty
B
stealing
C
scarcity
D
crimes
2) The type of resources that are present without human intervention.
A
capital resources
B
entrepreneurial resources
C
human resources
D
natural resources
3) The type of economy that is run by a central government authority.
A
traditional economoy
B
command economy
C
mixed economy
D
market economy
4) The type of economy where people believe in doing things the way they have in the past.
A
market
B
traditional
C
mixed
D
command
5) In which economy does men and women have specific roles?
A
socialist
B
traditional
C
mixed
D
gender
6) Which are goods produced and used to make other goods and services?
A
natural resources
B
food
C
human resources
D
capital resources
7) Which economy does the U.S. have?
A
market
B
all of these
C
mixed
D
weird
8) What is the study of how individuals and societies seek to satisfy needs and wants through choices?
A
ecology
B
ergonomics
C
economics
D
economicalogicalogistical
9) Which is a disadvantage of a command economy?
A
taxes must be paid
B
fewer choices which make less competition
C
no cell phones or cable to watch spongebob
D
promotes illegal business practices
10) Which are the four types of economic systems?
A
command, mixed, traditional, resourceful
B
traditional, free enterprise, command, mixed
C
natural, human, capital, entrepreneurial
D
mixed, traditional, command, checkers
*select an answer for all questions
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