Economic Systems

Question 1

The goal of a market economy is to

Revolt · Accepted Answer

promote free economic choices.

Question 2

A mixed market economy tends to exist under a

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democratic government that provides some regulation.

Question 3

The most common economic system in the world is a

Revolt · Accepted Answer

mixed market economy.

Question 4

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

Revolt · Accepted Answer

The government allows citizens to own private businesses.

Question 5

Which nation has a communist command economy?

Revolt · Accepted Answer

North Korea

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

A command economy tends to exist under a

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communist government that provides a lot of regulation.

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

best

Revolt · Accepted Answer

The government determines economic choices and makes most decisions.

Question 10

The citizens of the United States live and work in a

Revolt · Accepted Answer

mixed market economy.

Economic Systems Answers

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