Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Economic Systems
Test Description: Alberta SS 9
Instructions: Answer all questions to get your test result.
1) North Korea's four wireless companies are owned by the North Korean government. This is an example of which type of economy?
A
command economy
B
mixed economy
C
monopoly
D
traditional economy
2) The United States has which type of economy?
A
traditional
B
mixed
C
command
D
market
3) In this type of economic system, the decisions are made by the people.
A
market
B
mixed
C
command
D
traditional
4) Which economic system is a combination of the market and command systems?
A
command
B
market
C
traditional
D
mixed
5) Individuals can NOT own or start their own business in this type of economic system.
A
market
B
mixed
C
traditional
D
command
6) This economic system is based on customs and habits.
A
traditional
B
market
C
command
D
mixed
7) This economic system is generally limited to farming and herding.
A
command
B
market
C
mixed
D
traditional
8) There are four economies. Which one is centrally owned by the government?
A
capitalist
B
Laissez-Faire
C
socialist
D
communist
9) Which one is NOT one of the basic economic questions?
A
What is the product or service going to cost?
B
Who will buy the product or service?
C
Who will get the product or service?
D
What product or service will be made/offered?
10) This word describes the fact that there are unlimited wants but limited resourceds.
A
opportunity cost
B
price
C
resources
D
scarcity
11) Every country must develop a(n) _____ system to determine how to use its limited productive resources.
A
criminal
B
dual court
C
economic
D
civil
12) Rivalry between producers of a good results in better quality goods at a lower price. This is called:
A
competition
B
corporation
C
capitalism
D
consumer sovereignty
13) Profit is
A
the difference between cost and income
B
bringing water to crops
C
tools and knowledge used by humans
D
the cost to make a product
14) If there is high demand and low supply, what should happen to prices?
A
nothing
B
go down
C
go up
15) Increased government spending may result in higher taxes; decreased government spending may result in _____.
A
lower taxes
B
lower wages
C
higher taxes
D
higher wages
16) Which of the following is NOT a factor of production?
A
capital
B
land
C
labour
D
profit
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?