Economic Systems Quiz

An economic system where activity is controlled by a central authority and production is publicly owned.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

An economy where most goods and services are produced and distributed through free markets.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

An economy where some companies are owned by the government and other companies are not.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

The gross national product excluding the value of net income earned abroad.

• GDP Per Capita

• GDP Free Market

• GDP

• Quota

Measures a country's economic output per person and is calculated by dividing the GDP of a country by its population.

• GDP per capita

• GDP

• GDP Quota

• Quota

Percentage of the population of a given age group that can read and write.

• Educated

• Literacy Rate

• Teaching and Learning

• Reading Rate

A tax imposed by a government on imported, or in some countries, exported goods.

• Tariff

• Embargo

• Quota

• Scarcity

A fixed share of something that a person or group is entitled to receive or is bound to contribute.

• Tariff

• Embargo

• Quota

• Scarcity

An order of a government prohibiting the departure of commercial ships from its ports.

• Quota

• Tariff

• Scarcity

• Embargo

The quality or state of being not plentiful or abundant, absent.

• Tariff

• Embargo

• Scarcity

• Quota