1) Which of the following type of economy is where both government and citizens play important roles? a) Market b) Comand c) Free d) Mixed 2) Which of the following is an economic system in which the workings of the market are not planned or directed a) Market b) Comand c) Free d) Mixed 3) Which of the following is an economic system in which decisions about production and consumption are based on custom and tradition a) market b) free c) Traditional d) free 4) This is a society’s way of coordinating the production and consumption of goods and services a) Government System b) Economic systems  c) Political System d) Market System 5) This is an individual investor who accumulates capital, such as machinery, factories, and railroads a) Politician  b) Governor c) Capitalist d) Owner 6) an economic system in which decisions about production and consumption are made by a powerful ruler or government a) Command b) Free c) Market d) Capitalist 7) the free market economic system a) capitalism b) Socialism c) Democracy d) Command 8) an economic system in which decisions about production and consumption are based on custom and tradition a) Command b) Market c) Free d) Traditional 9) When one company controls an entire industry it is called an: a) Monopoly b) Government c) Power d) Market 10) A tariff is a tax on goods from other countries a) True b) False 11) An anti-trust law prevents monopolies from happening so that smaller companies can compete a) True b) False 12) In a free market the government controls all the goods a) True b) False 13) In which of the following types of types of economies are goods are controlled by the citizens a) Free b) Comand 14) In which of the following types of economies does the government control the economy? a) Free b) Comand 15) The following describes a mixed economy  a) controlled by the government b) controlled by the citizens only c) controlled by both the citizens and the government 16) Tarifs (taxes on goods from other countries) help a country compete with other countries a) True b) False 17) What type of economy does the United States have? a) Comand b) Free c) Mixed 18) The government protects competition by letting companies do whatever they want. a) True b) False

Economics

by
Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?