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Economic Systems Quiz 19 (25 MCQs)

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1. A tax on goods a country imports
2. In which type of economy does the government control everything?
3. Mr. Dyvig's business is ran incredibly strict. He sets the rules and his employees are expected to follow them. What form of economic system is this?
4. Which of the following leads to better, less expensive products in a capitalist economy?
5. Which is an example of human capital?
6. What economic systems consists of both command and market?
7. What do the economic systems of the United Kingdom, Germany, & Russia have in common?
8. Since traditional economies are small, they aren't as destructive to the environment as developed economies. Which economic system is this?
9. Which of the following is not an economic system?
10. The United States is now categorized as this economic system.
11. Which of these terms/ideas best represents Karl Marx's theory of communism?
12. Extent to which individuals or organizations are better off at the end of an economic exchange than before the exchange.
13. Which is NOT one of the types of resources?
14. In the products market,
15. An economy in which changes in prices completely guide what goods and services will be produced, distributed and consumed.
16. Choosing an item that cost $ 2.00 cheaper than the original price
17. Which type of economic activity processes and distributes information?
18. Economic system in which the central government makes all decisions on the production and consumption of goods and services.
19. Which of the following is NOT considered an economic and social goal?
20. What type of economic system allows government and private businesses to make economic decisions?
21. A market economy is very different from a command economy. Which of the following is found in a market economy?
22. A system that most likely would use bartering or trading.
23. The current economic system in the U.S. is _____
24. The way a country organizes how it will produce goods to meet the needs of its people
25. Where individuals own all property and means of production and the government has a hands off policy.
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