Economic Systems Question Preview (ID: 10916)


Social Studies. TEACHERS: click here for quick copy question ID numbers.

__________________ is the limited supply of something.
a) tariff
b) scarcity
c) economy
d) command

What does an economic system do?
a) determines who gets the most money
b) determines how to use limited resources
c) determines what the money should look like
d) determines what color the money should be

Which of the following is NOT a question that should be answered when determining an economic system?
a) What goods and services will be produced?
b) How will goods and services be produced?
c) Who will consume the goods and services?
d) What time will the goods and services be sold?

In a _______________ economy, the customs and habits of the past are used to decide what and how goods will be produced, distributed, and consumed.
a) traditional
b) command
c) market
d)

In a centralized ________________ economy, government planning groups make the basic economic decisions.
a) traditional
b) command
c) market
d)

In a decentralized _____________ economy, decisions are guided by changes in prices that occur between individual buyers and sellers in the marketplace.
a) traditional
b) command
c) market
d)

There are no exampes of ______________ economy in Europe.
a) traditional
b) command
c) market
d)

Although the new Russian Federation has adopted a more _________ economy, the former Soviet Union was an example of a __________ economy.
a) mixed; command
b) market; mixed
c) free; traditional
d)

All economies are mixed.
a) true
b) false
c)
d)

Most of Europe operates in a _______________ economy.
a) traditional
b) command
c) market
d)

Which of the following is not a trade barrier?
a) traditional
b) tariff
c) quota
d) embargo

What is the voluntary exchange of goods and services among people and countries?
a) trade
b) religion
c) location
d) economy

Countries limit trade by creating trade _____________.
a) barriers
b) quotas
c) tariffs
d) embargoes

The most common trade barriers are ______ and ______.
a) tariffs and quotas
b) traditional and market
c) tariffs and embargos
d) trade and tariffs

a tax on imports
a) tariff
b) quota
c) embargo
d) mixed

a limit placed on the number of imports that may enter a country
a) quota
b) tariff
c) embargo
d) command

a government order to stop trading with another country
a) embargo
b) tariff
c) quota
d) market

The European Union is a
a) free trade zone
b) free barrier zone
c) free liberal zone
d) free lance zone

In a free trade zone, there are not
a) tariffs
b) quotas
c) embargos
d) commands

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 10916 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links