The Economy Quiz
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- 1.
In a traditinal economy, how are economic decisions made?
- A.
Custom and Habit
- B.
Government planners
- C.
Consumers and the market
- D.
Combination of consumers and government planners
Correct Answer
A. Custom and Habit -
- 2.
In a command economy, how are economic decisions made?
- A.
Custom and Habit
- B.
Government planners
- C.
Consumers and the market
- D.
Combination of consumers and government planners
Correct Answer
B. Government planners -
- 3.
Which of the following would be a problem in a command economy?
- A.
Individules trying to make a business
- B.
Local crafts produced before manufactured goods
- C.
Government planners set prices for goods produced
- D.
Workers being forced to do a job they didn't want to do
Correct Answer
A. Individules trying to make a business -
- 4.
In a market economy, who makes the economic decisions?
- A.
Farmers
- B.
Custom and habbit
- C.
Government planners
- D.
Consumers and the market
Correct Answer
D. Consumers and the market -
- 5.
Who takes the financial risk in starting a new business in a market economy?
- A.
Consumers
- B.
Government planners
- C.
Individulal business people
- D.
A combination of C and b
Correct Answer
C. Individulal business people -
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-
Current Version
-
Jul 30, 2011Quiz Edited by
ProProfs Editorial Team -
Nov 24, 2009Quiz Created by
Baloncom
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