Types Of Economies Question Preview (ID: 17782)


Types Of Economies.

What does the interaction between supply and demand decide?
a) Price
b) Consumer Choice
c) Scarcity
d) Opportunity Cost

Question ID#: 205252 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

All of the following are characteristics of a free market economy EXCEPT
a) individual choice
b) private ownership
c) competition
d) no consumer choice

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Private ownership of property and resources is a characteristic of what type of economic system?
a) Traditional
b) Free Market
c) Command
d) Socialist

Question ID#: 205254 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

All of the following are characteristics of a command economy EXCEPT
a) government ownership of resources
b) competition
c) no consumer choice
d) centrally planned

Question ID#: 205255 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

Business, individuals, and government make economic decisions in which economic system?
a) Command
b) Traditional
c) Mixed
d) Free Market

Question ID#: 205256 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

Who makes decisions for the public sector in a mixed economy?
a) Government
b) Individuals
c) Businesses
d) Individuals and government

Question ID#: 205257 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

The government controls the means of production in what economic system?
a) Free Market
b) Command
c) Mixed
d) Traditional

Question ID#: 205258 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

What type of economic system does the United States have?
a) Traditional
b) Free
c) Command
d) Mixed

Question ID#: 205259 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

In the United States economic system, who makes decisions?
a) Individuals, business, and government
b) Government
c) Individuals
d) Business and Government

Question ID#: 205260 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

In the United States economy, business owners are allowed to keep all earnings they make after all expenses have been paid. What are these earnings called?
a) Price
b) Market value
c) Profit
d) Expenses

Question ID#: 205261 - quick copy the above question directly into your dataset in your teacher account by entering this number into the 'Search by Question ID' under the 'Search for Question' tab during dataset creation [more info]

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