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Traditional Economy
Test Description: Questions about traditional economies
Instructions: Answer all questions to get your test result.
1) Resources are
A
surplussed.
B
renewable.
C
limited.
D
infinite.
2) Which is not one of the three basic economic questions?
A
For whom will goods be made?
B
What will be made?
C
How will goods be made?
D
Who will make it?
3) How do societies answer the three economic questions?
A
They let businesses decide
B
They let the people decide
C
Each society decides differently
D
They let the government decide
4) Traditional economies are the _____________ economic system in the world.
A
most complex
B
newest
C
oldest
D
best
5) How are the economic questions answered in a traditional economy?
A
Economic decisions are made based off of the government.
B
Economic decisions are made based off of custom and tradition.
C
Economic decisions are made based off of people's wants.
D
Economic decisions are made based off of supply and demand.
6) What does nomadic mean?
A
Traditional
B
settled
C
ancient
D
move around a lot
7) Why do the Maasai people (traditional economy) raise cattle?
A
They have always raised cattle.
B
They worship cattle.
C
It is the item with the greatest demand.
D
They have a surplus of cattle.
8) Traditional economies are mostly
A
settled people with surplus supplies.
B
nomadic hunter gatherers.
C
wealthy groups in large cities.
D
driven by supply and demand.
9) How are goods distributed in a traditional economy?
A
bartering
B
The government distributes them.
C
There are no goods, only services.
D
People who can pay for goods receive them.
10) What does barter mean?
A
to trade
B
to consume
C
to create
D
to buy
11) What does tradition mean?
A
doing what you're told
B
doing something the way it's always been done
C
finding new ways of doing things.
D
having the most goods
12) Which of these scenarios is most like a traditional economy?
A
people pass down through generations how to make a good
B
The government makes sure everybody can see a doctor
C
people donated their money to a charity
D
someone buys a new pair of shoes at the mall
13) Which of these could be a motivation in a traditional economy?
A
freedom
B
religion
C
money
D
wealth
*select an answer for all questions
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