Unit 05A - Open Note Quiz

Which type of economy is typically found in small low-tech communities where there are no formal banks or currency but instead they use bartering for trade?

• traditional

• pure command

• pure market

• mixed

In which type of economy does the government make all of the decisions about what will be produced, who will produce the goods and services, and who will buy the goods and services?

• traditional

• pure command

• pure market

• mixed

In which type of economy do the people make all of the decisions about what will be produced, who will produce the goods and services, and who will buy the goods and services based on supply and demand?

• traditional

• pure command

• pure market

• mixed

What do we call an economy that has some characteristics of both government control and citizen control of the economy?

• traditional

• pure command

• pure market

• mixed

What is the name of the chart shown in the picture that we use to show how free or controlled an economy?

• economic arrow

• economic continuum

• economic guage

• economic scale

Which location on the continuum would be considered "command-leaning"?

• A

• B

• C

Which location on the continuum is the MOST market leaning?

• A

• B

• C

India's economy is 52% market and 48% command. Which letter on the continuum is best representative of India's economy?

• A

• B

• C

Singapore is 83% market and 17% command. Which marker on the continuum is the best representative of Singapore's economy?

• A

• B

• C

Cuba's economy is 24% market and 76% command. Which marker on the continuum is the best representative of China's economy?

• A

• B

• C