Mid PPT Review Question Preview (ID: 43369)

For The Middle Of Class Tuesday. TEACHERS: click here for quick copy question ID numbers.

Airlines, restaurants, insurance, tech support are all examples of
a) product industries
b) service industries
c) expensive services
d) modern conveniences

If an economy is DIVERSIFIED, that means that it produces
a) no products or services
b) just one or two major products and services
c) market system with a diverse population
d) a variety of products and services

Most nations today have a
a) Command Economy
b) Market Economy
c) Mixed Economy
d) Failing Economy

How many countries are there with pure COMMAND economies?
a) 5
b) 10
c) Most of South America
d) none

A market economy means
a) no government involvement or interference
b) no individual freedom
c) everyone sells their goods at the market
d) the government controls the market

In a command society, all decisions are made by
a) the people
b) traditions
c) the market
d) the government

TRADITIONAL Economies are typical of
a) Advanced industrialized nations
b) Developing industrial nations
c) Primitive societies
d) Communist governments

TRADITIONAL Economies usually are based on
a) individual customs and traditions
b) government interventions
c) free market tendencies with some government interventions
d) trade with foreign nations

A Nation's Economic Plan must include the HOW, WHAT and WHY of
a) the population's preferences
b) the goods and services to be produced
c) preventing war
d) printing money

Manufacturing and farming are both examples of
a) Essential economic industries
b) product industries
c) historic jobs for Americans
d) service industries

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