Economic Systems

Question 1

The most common economic system in the world is a

Revolt · Accepted Answer

mixed market economy.

Question 2

best

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The government determines economic choices and makes most decisions.

Question 3

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

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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 4

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

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the personal ownership of property; the influence of consumer demand

Question 5

Which statement best describes a mixed market economy?

Revolt · Accepted Answer

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

Question 6

Which nation has a command economy?

Revolt · Accepted Answer

Cuba

Question 7

In a communist command economy, workers are employed by

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the state.

Question 8

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

Revolt · Accepted Answer

Citizens cannot make most economic decisions.

Question 9

A mixed market economy tends to exist under a

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democratic government that provides some regulation.

Question 10

The goal of a market economy is to

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promote free economic choices.

Economic Systems Answers

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