Economic Systems of Europe

Question 1

Which country has a mixed economy that is almost entirely run by market forces?

Accepted Answer

United Kingdom

Question 2

In a command economy, economic decisions are made by the:

Accepted Answer

Government

Question 3

Which economic system is LEAST likely to be found in Europe?

Accepted Answer

Traditional

Question 4

What type of economic system does Germany have?

Accepted Answer

Mixed but closer to market

Question 5

Which of the following BEST describes a market system?

Accepted Answer

A person can start any legal business and charge any price.

Question 6

This is an economic system where people follow the occupation of their ancestors:

Accepted Answer

Traditional

Question 7

Which country’s economy is mixed but closer to a command economy?

Accepted Answer

Russia

Question 8

Which country has a mixed economy in which the government controls key resources?

Accepted Answer

Russia

Question 9

Which country has a mixed economy in which the government regulates some industries and sets prices?

Accepted Answer

Germany

Question 10

The economic system of autocratic countries is most closely related to which of the following economic system:

Accepted Answer

Command

Question 11

Most democratic nations have _______ economies.

Accepted Answer

Mixed

Question 12

Who owns the resources in a command economy?

Accepted Answer

The government

Question 13

What type of economy does the United Kingdom have?

Accepted Answer

Mixed but closer to market

Question 14

Which European country shown in the diagram has the LEAST free economy?

Accepted Answer

Russia

Question 15

Because most economies have characteristics of both the command and market economy, they are

Accepted Answer

Mixed

Questions 15