Government/Economics

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

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

The United States economy is based on this system:

• Command
• Market
• Traditional
• Socialist

The economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors.  This is what kind of economy? 

• Traditional 
• Market 
• Command 
• Centrally planned 

What does 'agriculture' mean?

• ranching
• farming
• space travel

An economic system in which the means of production is owned by the government and private ownership doesn't exist.

• Capitalism
• Imperialism 
• Socialism
• Communism 

Which government's source of power rests in a religious text or ruler?

• Theocracy 
• Democracy
• Dictatorship
• Anarchy

What type of government allows people to elect their representatives like the U.S.?

• Unlimited
• Totalitarianism 
• Monarchy
• Democracy 

Type of Economy that is half command and half market

• Traditional
• Command
• Market 
• Mixed

If the supply of a good is higher than the demand, what happens to the price?

• It stays the same
• Price goes down
• Price goes up
• It's FREE!!

My new Nikes were introduced in May for $129.99, but by December they are being sold for $69.99.  According to the law of supply and demand, which is most likely to be true about the Nikes.

• Supply for the Nikes are was hight but the demand was low.
• Supply for the Nikes was low but demand was high.