Economic Systems and Daily Life

Question 1

What is one way a command economy affects the lives of private citizens?

Revolt · Accepted Answer

Citizens cannot make most economic decisions.

Question 2

In a communist command economy, workers are employed by

Revolt · Accepted Answer

the state.

Question 3

The goal of a market economy is to

Revolt · Accepted Answer

promote free economic choices.

Question 4

Which nation has a command economy?

Revolt · Accepted Answer

Cuba

Question 5

A command economy tends to exist under a

Revolt · Accepted Answer

communist government that provides a lot of regulation.

Question 6

What restriction would the government impose in a closed economy?

Revolt · Accepted Answer

The government would prohibit trade with other nations.

Question 7

Which statement best describes a pure market economy?

Revolt · Accepted Answer

The decisions made by producers and consumers drive all economic choices.

Question 8

Read the paragraph below, and then decide which type of economy is being described.In this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunting animals and gathering plant materials. Members trade with each other to obtain needed goods, as few people hold currency. Little economic growth occurs.What type of economy is being described?

Revolt · Accepted Answer

a traditional economy

Question 9

best

Revolt · Accepted Answer

The government determines economic choices and makes most decisions.

Economic Systems and Daily Life Answers

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