Economic Systems

Question 1

The citizens of the United States live and work in a

Revolt · Accepted Answer

mixed market economy.

Question 2

What restriction would the government impose in a closed economy?

Revolt · Accepted Answer

The government would prohibit trade with other nations.

Question 3

The goal of a market economy is to

Revolt · Accepted Answer

promote free economic choices.

Question 4

Which nation has a communist command economy?

Revolt · Accepted Answer

North Korea

Question 5

Which nation has a command economy?

Revolt · Accepted Answer

Cuba

Question 6

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

Revolt · Accepted Answer

Citizens cannot make most economic decisions.

Question 7

The most common economic system in the world is a

Revolt · Accepted Answer

mixed market economy.

Question 8

The goal of a command economy is to

Revolt · Accepted Answer

create equality within a society.

Question 9

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 10

In a communist command economy, workers are employed by

Revolt · Accepted Answer

the state.

Economic Systems Answers

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