1) Both businesses and the government make economic decisions a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 2) Countries placed anywhere on the economic continuum between market and command economies. a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 3) The prices of goods are determined by supply and demand  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 4) Based on the principal of supply and demand a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 5) Businesses have no say in the economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 6) Typically found in small rural villages a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 7) The government makes all the economic decisions a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 8) Also know as free enterprise or capitalism a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 9) the private sector (private consumers and producers) is in charge of the economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 10) There is no government regulation at all a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 11) Both the public (government) and the private sector make decisions  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 12) North Korea has close to this economy  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 13) Has characteristics of both command and market economies a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 14) hunting, fishing, gathering, a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 15) No private sector a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 16) All countries have this type of economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 17) If my parents were peanut farmers, I am going to be a peanut farmer too a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 18) people follow tradition and do what their ancestors did a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 19) Most democratic countries have this type of economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 20) Businesses and private individuals make all the economic decisions  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 21) bartering is used (trading without using money) a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 22) Central authority (government) makes all the decisions  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy

Economic Systems

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