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Economic Systems Quiz Flashcards | StudBud
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Economic Systems Quiz
Economic Systems Quiz
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StudBud Administration
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Quick Quiz about economic systems and the invisible hand concept
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
A major disadvantage of a command economy is
Environmental damage
equal wealth distribution
Technologically challenged
No individual motivation
2
Which Economy is known to be the most technologically challenged
Market Economy
Command Economy
Traditional Economy
Mixed Economy
3
Which economy type is known to have equal wealth distribution
Traditional
Market
Mixed
Command
4
Which of the following is NOT a type of economic system
Open
Traditional
Mixed
Market
5
BONUS: What was the first question in this quiz about
3 economic questions
Types of economic systems
Iphones
Invisible Hand
6
Around how many people today live in a traditional economy
74 million
400 million
7 billion
0
7
The command decides all in what economy
Command
Market
Mixed
Traditional
8
The Invisible Hand idea is...
A new Super Smash Bros boss concept
How a traditional economy survives by itself
About how individuals help others unintentionally
The Illuminati
9
A mixed economy is usually comprised of these types of economies
Market and Traditional
Command and Market
Traditional and Command
Traditional and Traditional
10
Which of the following IS part of the three economic questions
When to produce
Why to produce
Foods is a type of produce
What to produce
