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33. Types Of Economies
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) Which not a type of economy?
A
command
B
mixed
C
democratic
D
free
2) Which pair is incorrect?
A
Mixed = USA
B
Free = China
C
Free = Australia
D
Command = Cuba
3) Which is not a characteristic of a command economy?
A
No compeititon
B
lots of government involvement
C
Private propety
D
government makes all of the economic decisions
4) Which is not a characteristic of a command economy?
A
government owns all property
B
lots of government involvement
C
individual choice
D
no profits
5) Which is not a characteristic of a free economy?
A
competition
B
government owns all property
C
individual choice
D
little government involvement
6) Which is not a characteristic of a free economy?
A
profit driven
B
consumer sovereignty
C
no competition
D
little government involvement
7) Which is not associated with a command economy (communism)?
A
government regulation of everything
B
free healthcare
C
limited choices (i.e. instead of hundreds of restaurants there is just one restuarant )
D
Individuals get to choose what they buy, sell, and produce
8) Which is not associated with a free economy (capitalism or a free market as in free of government interference)?
A
Everyone gets free stuff
B
healthcare is not free; if you pay more you get better quality, pay less then get less
C
quality is better and price is lower because businesses compete
D
government does not interfere with businesses and consumer choices
9) In a mixed economy _____________
A
decisions are based on survival
B
the government makes all decisions
C
the government is not involved
D
the government makes some decisions (public sector) and individuals and business make some choices (private sector)
10) Economies around world fall somewhere on the spectrum between command (Communism) and free (capitalism)
A
False
B
True
*select an answer for all questions
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