Mixed Economy Question Preview (ID: 38998)
Mixed Economy Questions.
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Which of the following is not one of three economic questions?
a) What will be made?
b) How will goods be made?
c) Who makes goods?
d) For whom are goods made?
No economy in the world is a pure traditional, market, or command economy.
a) True
b) False
c)
d)
Nearly all countries have a _________ economy.
a) market
b) command
c) traditional
d) mixed
Which is the best description of a mixed economy?
a) The government makes all of the economic decisions.
b) The people make all of the economic decisions.
c) The people and the government both play a role in economic decisions.
d) Economic decisions are determined based off of what has always been done.
What kind of economy does the US have?
a) traditional
b) market
c) command
d) mixed
What determines prices in the United States?
a) supply and demand
b) the government
c) the church
d) producers only
What is supply and demand?
a) supply is what is bought, demand is what is made
b) supply is what is made, demand is what is bought
c) demand is regulated, while supply is not
d) supply is what people want, demand is who buys it
Who has the ultimate power in the US (mixed economy)?
a) the government
b) consumers
c) producers
d) the bank
How does the government help make economic decisions in a mixed economy?
a) they put regulations on the economy
b) they controls what is bought and sols
c) they set the prices for goods
d) they decide how to allocate resources
What are regulations?
a) the items people buy in an economy
b) the items producers make in an economy
c) rules or laws
d) resources needed to make goods an services
What is an example of how how the government plays a role in the US economy?
a) the government controls what is being produced
b) the government has no role in a mixed economy
c) the government makes sure everybody's needs are met
d) the government provides services like police, military, roads, and education
Which statement best describes a mixed economy?
a) All mixed economies are the same
b) North Korea is an example of a mixed economy
c) There are very few mixed economies in the world today
d) The government and people work together to maintain a mixed economy
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