The most common economic system in the world
Economic Systems Test

Quiz
•
Social Studies
•
12th Grade
•
Hard
REBECCA HARMON
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
closed economy
command economy
mixed market economy
2.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Which statement best describes a command economy?
Government intervention in economic choices is strictly forbidden.
The government determines economic choices and makes most decisions.
The decisions made by producers and consumers drive all economic choices.
3.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Which statement best describes a mixed market economy?
The government determines economic choices and makes most decisions.
The decisions made by producers and consumers drive all economic choices.
Producers and consumers make some economic choices while the government makes others.
4.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
n this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunting animals and gathering plant materials. Members trade with each other to obtain needed goods, as few people hold currency. Little economic growth occurs.
What type of economy is being described?
a traditional economy
a free market economy
mixed-market economy
5.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
A command economy tends to exist under a
democratic government that provides little regulation.
representative government that provides no regulation.
communist government that provides a lot of regulation.
6.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
A mixed market economy tends to exist under a
communist government that provides little regulation.
democratic government that provides some regulation.
representative government that provides no regulation.
7.
MULTIPLE CHOICE QUESTION
10 mins • 1 pt
Which nation has a communist command economy?
North Korea
Norway
United States
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