Traditional, Command, and Market Economies
A free enterprise economy is a system in which economic decisions are made in markets by consumers and businesses.
A. True
B. False
Payments that citizens are required to make to government are called
A. Merchandise
B. Goods
C. Taxes
D. Bills
In which type of economic system does the government have the MOST control of the economy?
A. pure command economy
B. mixed economy
C. pure market economy
D. traditional economy
How are the economies of Russia and Germany different?
A. It is more difficult to start a business in Russia.
B. Russia provides more private property protections. C. German consumers have access to fewer foreign goods.
D. The German economy relies more on exporting resources.
Businesses produce goods and services for citizens, who in turn supply labor and other resources to the businesses.
A. True
B. False
In a free enterprise economy, who makes the decisions about what a business will sell?
A. Government
B. Customers
C. The business
D. Taxes
Which type of economic system is MOST associated with autocratic governments?
A. mixed economy
B. pure command economy
C. traditional economy
D. pure market economy
How are the economies of the United Kingdom and Russia different?
A. It is much more difficult to start a business in the United Kingdom.
B. Consumers in the United Kingdom have considerably fewer choices.
C. The United Kingdom provides greater protection of private property rights.
D. Economic growth in the United Kingdom is more reliant on natural resources.
Due to scarcity, people cannot have all of the things they want.
A. True
B. False
Compared to Great Britain, Germany has an economic system much closer to a
A. communist economy.
B. pure socialist economy.
C. pure market economy.
D. social market economy.
Which type of economic system puts the MOST value on economic decisions made by people in the past?
A. pure command economy
B. traditional economy
C. pure market economy
D. mixed economy
Which statement correctly compares a country with a traditional economy and a country with a pure market economy?
A. The country with a traditional economy would be more likely to encourage entrepreneurial activity.
B. The country with a pure market economy would be more likely to experience sustained economic growth.
C. The country with a pure market economy would be more likely to rely on the government to organize production.
D. The country with a traditional economy would be more likely to base production decisions on consumer demand.
Who pays for public goods and services?
A. Philanthropists
B. Taxpayers
C. Only people who use them
D. Whales
Most of the nations of Europe have economic systems representing combinations of
A. market and socialist economies.
B. agrarian and market economies.
C. communist and socialist economies.
D. agrarian and communist economies
What types of economies do the modern states of Germany and Russia have?
A. mixed economies
B. traditional economies
C. pure market economies
D. pure command economies
Which is NOT a type of resource?
A. Natural Resource B. Human Resource C. Capital Resource D. Business Resources
Which statement BEST summarizes the variety of economic systems throughout Europe?
A. Most of them are primarily command economies with elements of market economies.
B. Most of them are command economies, and the rest are nearly pure market economies.
C. Most of them are nearly pure market economies, and the rest are command economies.
D. Most of them are primarily market economies with elements of command economies.
What do countries with market economies base their answers to economic questions on?
A. what skills workers have
B. what consumers demand
C. what previous generations produced
D. what the government wants to produce