Economics Review
Quiz by Kimberly Phillips-Hoyle
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- Q1
Free Enterprise system depends on what to determine how much to produce?
Supply and Demand
Per Capita GDP
Goods and Services
Government Demand
30s - Q2
According to the chart, which statement is NOT true?
The farming, fishing, forestry industry grew by 30% millions between 1940 and 2009
The service industry grew in size to become the largest industry by 2009
The creative industries rose from 15 million to 40 million between 1940 and 2009
Manufacturing and related industries dipped from 30 million to 25 million between 1980 and 2009
30s - Q3
According to the information on the chart, which of these economies is the least advanced?
Ethiopia
Canada
Cuba
Peru
30s - Q4
Based on the information, the type of economy a society has is largely based on which of the following factors?
The amount of government involvement
The amount of consumers
The wants and needs to its people
The amount of resources at its disposal
30s - Q5
In which economy does the government decide what goods and services to make?
Command Economy
Free Market Economy
Mixed Economy
Traditional Economy
30s - Q6
In which economy does the government make all the rules?
Mixed Economy
Command Economy
Free Market Economy
Traditional Economy
30s - Q7
In what kind of economy can producers decide what goods and services to make and what to charge?
Market Economy
Mixed Economy
Command Economy
Traditional Economy
30s - Q8
In what economy does the government control all resources, means of production, and services?
Free Market
Communist Economy
Free Enterprise
Entrepreneur Economy
30s - Q9
When does the government have control of the country's economy?
Entrepreneurs decide the productions and distribution of goods
The market decides the production and distribution of goods
The government decides the production and distribution of goods
Traditional society decides the production and distribution of goods
30s - Q10
Factors of production are decided by what?
Exports
Economic Systems
Imports
Prices
30s - Q11
Cash crops are sold to do what?
Make a profit for the farmers
Feed society based on government decisions
Benefit the government
Feed the farmer's family
30s
