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Economic Systems Answers

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What restriction would the government impose in a closed economy?

A
The government would prohibit trade with other nations.
B
The government would set the prices for imported goods.
C
The government would preserve traditional customs only.
D
The government would prevent private ownership of property.
2
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Which nation has a communist command economy?

A
Norway
B
North Korea
C
South Korea
D
the United States
3

The goal of a command economy is to

A
sustain self-sufficiency.
B
preserve traditional customs.
C
create equality within a society.
D
promote free economic choices.
4

Which statement best describes a pure market economy?

A
Producer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
5

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

A
Citizens cannot make most economic decisions.
B
Citizens can only work in factories or on farms.
C
Citizens must pay for their own health care.
D
Citizens have limited access to education.
6

Which nation has a command economy?

A
Cuba
B
Norway
C
South Korea
D
the United States
7

The goal of a market economy is to

A
sustain self-sufficiency.
B
preserve traditional customs.
C
create equality within a society.
D
promote free economic choices.
8

The most common economic system in the world is a

A
closed economy.
B
command economy.
C
mixed market economy.
D
traditional economy.
9

What is prohibited in a command economy? Select two answers.

A
the control of prices and income levels
B
the rationing of manufactured goods
C
the personal ownership of property
D
the influence of consumer demand
E
the intervention of the government
10

Which statement best describes a mixed market economy?

A
Consumer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.

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Economic Systems Answers — AISD Economics 2026-27