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Economic Systems Post-Quiz
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Which nation(s) have a mixed economy?
United States
China
Belarus
Sweden
Clear selection
A shortage of resources is known as
supply
scarcity
shortage
surplus
Clear selection
Which economic system allows businesses and consumers decide what they will produce and purchase and in what quantities?
market
traditional
socialist
command
Clear selection
Which of the following is NOT an example of an economic system?
market
mixed
conservative
traditional
Clear selection
What is the primary goal of an economic system?
allocate money to the people
spend and utilize proper business practices
provide people with a minimum standard of living, or quality of life
utilize the government so people can survive
Clear selection
An advantage of this economy is the balance of needs and wants are met by the government and in marketplace.
commerce economy
command economy
market economy
mixed economy
Clear selection
Choose the four main types of economic systems.
Traditional
Market
Command
Entrepreneurship
Mixed
Conservative
Explain the difference between a traditional and command economy.
Your answer
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