Economics 101 Question Preview (ID: 22281)


Economy Terms. TEACHERS: click here for quick copy question ID numbers.

This economy has private business owners, driven by the consumers, supply and demand.
a) Command
b) Market
c) Mixed
d) Traditional

An economy that is a combination of market and command.
a) Command
b) Market
c) Mixed
d) Traditional

This economy is based on the traditions and customs of the people, natural resources.
a) Command
b) Market
c) Mixed
d) Traditional

This economy is controlled by the government.
a) Command
b) Market
c) Mixed
d) Traditional

The government makes all decisions in this economy.
a) Command
b) Market
c) Mixed
d) Traditional

Your government controls the steel industries, but allows individual companies to make and sell whatever they choose.
a) Command
b) Market
c) Mixed
d) Traditional

In this country business owners are free to make and sell whatever they wish with no government control.
a) Command
b) Market
c) Mixed
d) Traditional

This economy is based on what people’s ancestors have always done.
a) Command
b) Market
c) Mixed
d) Traditional

The government controls tells the factories what to make, how to make it, and what price to charge.
a) Command
b) Market
c) Mixed
d) Traditional

The tribes of the Amazon Rainforest practice this economy.
a) Command
b) Market
c) Mixed
d) Traditional

This country practices the free enterprise system, but the government makes some decisions about the economy.
a) Command
b) Market
c) Mixed
d) Traditional

This country has business owners and customers that make decisions about what to make, sell, and buy.
a) Command
b) Market
c) Mixed
d) Traditional

This country has a communist government that makes the choice of what goods to produce.
a) Command
b) Market
c) Mixed
d) Traditional

The study of the production, distribution, and use of goods and services.
a) Economy
b) Economics
c) Economic Platform
d) Economic Systems

A limited supply of something.
a) limitations
b) dense
c) scarcity
d) supply and demand

All of the activities people do to earn a living are part of the ?
a) world
b) economy
c) economics
d) budget

The total value of all the goods and services produced in one country.
a) supply and demand
b) per capita
c) economic system
d) Gross Domestic Product/ GDP

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