Standard Ssef4

Consumer sovereignty, profit motive, private ownership, and competition are all most associated with which economic system?

• Command

• Market

• Traditional

• None of the above

What type of economy do most countries in the world have?

• Communist economy

• Command economy

• Traditional economy

• Mixed economy

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional 

• Market 

• Command 

• Centrally Planned 

The fundamental economic questions that all economies must answer are

• Who will rule, who will vote, and who will pay taxes?

• What will be produced, how will it be produced, and for whom it will be produced?

• Who determines the cost, who will set the prices, and who determines how much is made?

• How much will be produced, of what quality it will be, and who will pay for it?

In 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 

A government in which the state controls all property and capital, while claiming that all goods are equally shared by the people leading to equal social and economic status is called

• Socialism

• Democracy

• anarchy

• communism

A government in which the means of planning, producing and distributing goods is controlled by a central government that theoretically seeks a more just and equitable distribution of property and labor is called:

• Democracy

• Communism

• Monarchy

• Socialism

What is the primary focus of the Standard Ssef4 in Social Studies?

• Economic systems

• Political ideologies

• Cultural practices

• Environmental policies

Which economic concept is emphasized in Standard Ssef4?

• Supply and demand

• Consumer sovereignty

• Monetary policy

• Fiscal policy

Standard Ssef4 is most likely to cover which of the following topics?

• Market structures

• Historical events

• Geographical features

• Biological processes