ECONOMIC SYSTEMS TEST

In a market economy, if your mom dad are both teachers, do you have to be a teacher?

• NO
• Yes
• Maybe

In a command economy, who holds power over the economy?

• The people
• The government 
• Beyonce
• The traditions of your ancesetors 

What are the 3 economic questions?

• What to produce? How To Produce? For whom to produce?
• Who to produce? Why you produce? Like to produce?
• Why to produce? Tell who to produce? Things to produce?

If the government makes me produce 70 T-Shirts, what economic system is this?

• Mixed
• Traditional
• Command
• Market

If I choose to produce fish for my town because my mom and dad were fishermen/women, what economic system is this?

• Mixed
• Market
• Traditional
• Command

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

• Mixed
• Traditional
• Market 
• Command

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

Which economy is dictated by supply and demand and the buyers and sellers?

• Market
• Socilaism 
• Mixed 
• Command 

Which of the following is an economic system in which economic decisions are made according to social roles & culture?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

________ is the most basic economic problem.

• Scarcity
• Labor
• Greed
• Capital