Unit 2 - Economics - Types Of Economies Question Preview (ID: 63471)


Unit 2 - Economics - Types Of Economies. TEACHERS: click here for quick copy question ID numbers.

What economy does the government make all of the choices?
a) Command Economy (communism)
b) Free Market Economy (capitalism)
c) Mixed Economy
d) USA

What economy does the individual make all of the choices?
a) Command Economy (communism)
b) Mixed Economy
c) Command Economy (socialism)
d) Free Market Economy (capitalism)

What is America's economy?
a) Command Economy (communism)
b) Mixed Economy
c) Free Market Economy (capitalism)
d) Command Economy (socialism)

Which pair is incorrect?
a) Command Economy - communism
b) Free Market Economy - capitalism
c) USA - Mixed Economy
d) socialism - capitalism

What economy features competition and profit-driven firms?
a) Free Market Economy (capitalism)
b) Command Economy - communism
c) Command Economy (socialism)
d) North Korea

How could college become more affordable?
a) Cancel financial aid (FAFSA)
b) increase financial aid (FAFSA)
c) The Fed lowers interest rates
d) create fewer colleges

Individuals decide what products will be made.
a) Inflation
b) Government Sovereignty
c) Consumer Sovereignty
d) Subsidies

what is the main difference between economies?
a) Taxes
b) Government involvement
c) Interest rates
d) Natural Resources

Which is a characteristic of a command economy?
a) Individuals choose
b) no competition
c) profit driven
d) private property

Which is a characteristic of a free market economy?
a) Centrally planned
b) no competition
c) government owns all property
d) Individuals choose

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