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Economic Systems (Blind)
Economic Systems (Blind)
11 terms
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StudBud Administration
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443 plays
Introducing different economic systems from around the world.
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
Which country has a strict command economy?
Switzerland
Japan
United States
North Korea
2
In all mixed economies, resources are owned by government, but people get make economic choices
False
True
3
Which economy would have the highest degree of individual freedom?
Market economy
Traditional economy
Command economy
4
The government plans economic activities in a _____ economy.
Command
Traditional
Market
5
The U S has a ____ economy.
Free enterprise
Capitalism
Mixed
Market
6
An economy with some government control, but people enjoy economic freedom and choices.
Command
Traditional
Mixed
Market
7
People and business act in their own best interest to answer the economic questions.
Market economy
Traditional economy
Command economy
8
The U S is a mixed economy because government
Imposes laws for public protection
Owns natural resources
9
Which of the following is not one of the 3 economic questions that all societies must answer?
Who will receive the goods & services?
How will goods & services be produced?
How much tax will government get?
What goods & services will be produced?
10
Economic activity is based on customs that have gone on for generations.
Market economy
Command economy
Traditional economy
11
Most countries today have a ____ economy.
Mixed
Market
Traditional
Command
