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Mid PPT Review
Test Description: For the middle of class Tuesday
Instructions: Answer all questions to get your test result.
1) A Nation's Economic Plan must include the HOW, WHAT and WHY of
A
the population's preferences
B
printing money
C
the goods and services to be produced
D
preventing war
2) TRADITIONAL Economies usually are based on
A
free market tendencies with some government interventions
B
individual customs and traditions
C
trade with foreign nations
D
government interventions
3) TRADITIONAL Economies are typical of
A
Communist governments
B
Advanced industrialized nations
C
Primitive societies
D
Developing industrial nations
4) In a command society, all decisions are made by
A
traditions
B
the people
C
the government
D
the market
5) A market economy means
A
the government controls the market
B
everyone sells their goods at the market
C
no individual freedom
D
no government involvement or interference
6) How many countries are there with pure COMMAND economies?
A
10
B
Most of South America
C
5
D
none
7) Most nations today have a
A
Mixed Economy
B
Failing Economy
C
Command Economy
D
Market Economy
8) If an economy is DIVERSIFIED, that means that it produces
A
a variety of products and services
B
just one or two major products and services
C
no products or services
D
market system with a diverse population
9) Airlines, restaurants, insurance, tech support are all examples of
A
service industries
B
modern conveniences
C
product industries
D
expensive services
10) Manufacturing and farming are both examples of
A
Essential economic industries
B
service industries
C
product industries
D
historic jobs for Americans
*select an answer for all questions
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