Command Economy Question Preview (ID: 38997)
Command Economy Questions.
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Which one of these is not one of the three economic questions?
a) What to make?
b) How will it be made?
c) Who will make it?
d) For whom will it be made?
Who owns the factors of production in a command economy?
a) the people
b) businesses
c) the church
d) the government
What are the factors of production?
a) resources needed to make goods and services
b) how much of something is produced
c) the final cost of goods and services
d) the economic questions
What is economic planning in a command economy?
a) a family planning how to spend their income
b) the government making decisions about an economy
c) businesses planning out how to use resources
d) making economic plans based off of tradition
In a market economy supply and demand determines which goods and services will be produced, in a command economy how is that decision made?
a) supply and demand
b) tradition determines what will be produced
c) consumers decide what will be produced
d) the government decides what will be produced
How are prices set in a command economy?
a) the government sets the prices
b) prices are determined by supply and demand
c) people mostly barter for goods and services
d) everything is free
Many ________ economies were command economies.
a) modern
b) religious
c) democratic
d) ancient
Which of these would you most likely see in a command economy?
a) producers making what they want
b) a strong ruler making all of the decisions
c) nobody making any decisions
d) a lot of churches
Which movie would be a good example of a command economy?
a) Harry Potter, the wizards have their own economy
b) Back to the Future, the 1980s gave the government more power
c) Wolf of Wall Street, Wall Street leaders made economic choices
d) Hunger Games, government decides what each district makes
Which modern day country has a command economy?
a) the United States
b) Canada
c) North Korea
d) India
Which type of leader would most like a command economy?
a) an elected president
b) an absolute monarch
c) a church official
d) no leader
Which type of leader would utilize a command economy?
a) a dictator
b) an elected president
c) an economist
d) a religious leader
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