Economic Systems

Question 1

A command economy tends to exist under a

Revolt · Accepted Answer

communist government that provides a lot of regulation.

Question 2

Which nation has a communist command economy?

Revolt · Accepted Answer

North Korea

Question 3

The most common economic system in the world is a

Revolt · Accepted Answer

mixed market economy.

Question 4

best

Revolt · Accepted Answer

The government determines economic choices and makes most decisions.

Question 5

A mixed market economy tends to exist under a

Revolt · Accepted Answer

democratic government that provides some 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

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 8

What is prohibited in a command economy? Select two answers.the control of prices and income levelsthe rationing of manufactured goodsthe personal ownership of propertythe influence of consumer demandthe intervention of the government

Revolt · Accepted Answer

the personal ownership of property; the influence of consumer demand

Question 9

The goal of a command economy is to

Revolt · Accepted Answer

create equality within a society.

Question 10

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

Revolt · Accepted Answer

Citizens cannot make most economic decisions.

Economic Systems Answers

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