Types of Economies

The government of China tells factory managers to increase their use of computers in manufacturing. What economic question is most affected by the government’s actions? 1. What to produce 2. How to produce 3. For whom to produce 4. When to produce :

Which of these is most often encouraged by the government in a command economy? 1. National production goals 2. Inherited occupational roles 3. Private ownership of property 4. Competition between businesses

Which of these is a characteristic of a traditional economy? 1. People rely heavily on hunting and farming 2. Large corporations compete for business 3. The government generally owns all means of production 4. Technological advancements encourage growth

Which of these is usually true in nations with a market economy? 1. Businesses that are inefficient risk going out of business 2. Most farms are owned and operated by the government 3. Workers are restricted by the government from changing jobs 4. Consumers have little choice in the types of goods they may buy 10 Seconds Remaining

Which of these is a characteristic of capitalism? 1. Limited business rights 2. Competition between businesses 3. Government control and ownership of property 4. Nationwide pricing rules for goods and services