Economic Systems — Quiz

Question 1

Which nation has a communist command economy?

Revolt · Accepted Answer

North Korea

Question 2

How does the government of a republic typically shape its economy?

Revolt · Accepted Answer

The government allows citizens to own private businesses.

Question 3

A mixed market economy tends to exist under a

Revolt · Accepted Answer

democratic government that provides some regulation.

Question 4

Which nation has a command economy?

Revolt · Accepted Answer

Cuba

Question 5

The goal of a market economy is to

Revolt · Accepted Answer

promote free economic choices.

Question 6

How does the economy of Cuba differ from the economy of North Korea?

Revolt · Accepted Answer

In Cuba, the government’s control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy.

Question 7

A command economy tends to exist under a

Revolt · Accepted Answer

communist government that provides a lot of regulation.

Question 8

Which statement best describes a mixed market economy?

Revolt · Accepted Answer

Producers and consumers make some economic choices while the government makes others.

Question 9

The goal of a command economy is to

Revolt · Accepted Answer

create equality within a society.

Question 10

What restriction would the government impose in a closed economy?

Revolt · Accepted Answer

The government would prohibit trade with other nations.

Economic Systems — Quiz Answers