Economics Day 2

Question 1

True or False: There are pure command and pure market countries today.

Accepted Answer

False

Question 2

Which economic systems have characteristics of both command and market economy?

Accepted Answer

Mixed

Question 3

Which economy is controlled by the government?

Accepted Answer

Command

Question 4

Which economic system answerrs the three government questions based on supply and demand?

Accepted Answer

Market

Question 5

The UK falls under _________ on the economic continuum.

Accepted Answer

Market-leaning

Question 6

What is an element of the UK&#x27;s economic freedom?

Accepted Answer

Citizens and businesses own most of the nation&#x27;s resources and facotries.

Question 7

What does the left end of the economic continuum represent?

Accepted Answer

Pure Command Economy

Question 8

True or False: Most European countries have a market-leaning economy.

Accepted Answer

True

Question 9

What does the right end of the economic continuum represent?

Accepted Answer

Pure Market Economy

Question 10

Which one of the following is a trade restriction that we did not talk about?

Accepted Answer

Standards

Question 11

Which of the following is not an economic question?

Accepted Answer

Where to produce?

Questions 11