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Economics Review

Quiz by laura borrego

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15 questions
Show answers
  • Q1
    A developed country should have a high-
    Question Image
    literacy rate
    poverty rate
    infant mortality rate
    drop out rate
    30s
  • Q2
    It is important for countries to be interdependent because
    Question Image
    no country has everything it needs
    what if another country has resources no one wants
    every country needs a friend to trade with
    sharing is caring
    30s
  • Q3
    If a business owner makes all of the decisions about what they make how much to sell it for, what kind of economy are they under?
    Question Image
    socialist
    free enterprise (capitalism)
    traditional
    command
    30s
  • Q4
    If the government makes all of the decisions about what is made and who it is sold to, and they own all of the businesses and homes, what type of economy is this?
    traditional
    socialist
    free enterprise (capitalism)
    command
    30s
  • Q5
    The government makes decisions to keep people and the environment safe
    Question Image
    Free Enterprise Economy
    Command Economy
    30s
  • Q6
    The government makes all of the decisions
    Question Image
    Command Economy
    Free Enterprise Economy
    30s
  • Q7
    Consumers are only allowed to buy from countries their government approves
    Question Image
    Command Economy
    Free Enterprise
    30s
  • Q8
    Competition makes better products for consumers
    Question Image
    Command Economy
    Free Enterprise
    30s
  • Q9
    Another word for Free Enterprise is
    Question Image
    copy cat economy
    caterpillar economy
    El Capitan Economy
    capitalist economy
    30s
  • Q10
    In what level of development would people rely on farming or agriculture for their food?
    Question Image
    Developing
    Underdeveloped
    Developed
    30s
  • Q11
    When countries rely on one another--such as the US needing oil from the Middle East, and the Middle east needing food from the US--this is called
    Question Image
    independence
    dependence
    interdependence
    30s
  • Q12
    The economic system that best describes the US is
    Free Enterprise
    Command
    Socialist
    30s
  • Q13
    In the US, the government will create rules for businesses to follow to keep people
    safe
    secure
    satisfied
    30s
  • Q14
    High GDP per capita, High Average Life Expectancy, and
    Low Literacy Rate
    High Literacy Rate
    30s
  • Q15
    Low GDP per capita, Low Average Life Expectancy, and
    Low Literacy Rate
    High Literacy Rate
    30s

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