Four Economic Systems Quiz

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Quiz on the 4 economic types

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Michelle Reece

United States

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Froggy Jumps Four Economic Systems QuizOnline version Quiz on the 4 economic types by Michelle Reece 1 Which system relies on customs and barter as the primary means of exchange? a Command b Traditional c Market 2 Which economic system is based on centralized planning and state ownership? a Command b Mixed c Market 3 Which system emphasizes private property and voluntary exchanges in markets? a Traditional b Market c Command 4 Which economy blends market mechanisms with government intervention? a Mixed b Traditional c Command 5 In a traditional economy, how are most decisions made? a By customs and traditions b By market prices c By government planning 6 A major drawback of a command economy is what? a Limited consumer choices b Encourages innovation c High efficiency 7 In a market economy, who determines what to produce? a Government planners b Traditional leaders c Consumers through demand 8 What role does government play in a mixed economy? a Some regulation and public services b None c Full control 9 Which system typically uses supply and demand to set prices? a Market b Command c Traditional 10 Global economies today are best described as? a Pure command b Mixed economies c Pure traditional

Froggy Jumps

Four Economic Systems QuizOnline version

Quiz on the 4 economic types

by Michelle Reece

Which system relies on customs and barter as the primary means of exchange?

Command

Traditional

Market

Which economic system is based on centralized planning and state ownership?

Command

Mixed

Market

Which system emphasizes private property and voluntary exchanges in markets?

Traditional

Market

Command

Which economy blends market mechanisms with government intervention?

Mixed

Traditional

Command

In a traditional economy, how are most decisions made?

By customs and traditions

By market prices

By government planning

A major drawback of a command economy is what?

Limited consumer choices

Encourages innovation

High efficiency

In a market economy, who determines what to produce?

Government planners

Traditional leaders

Consumers through demand

What role does government play in a mixed economy?

Some regulation and public services

None

Full control

Which system typically uses supply and demand to set prices?

Market

Command

Traditional

Global economies today are best described as?

Pure command

Mixed economies

Pure traditional

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Four Economic Systems Quiz

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Froggy Jumps

Four Economic Systems QuizOnline version

by Michelle Reece

Which system relies on customs and barter as the primary means of exchange?

Which economic system is based on centralized planning and state ownership?

Which system emphasizes private property and voluntary exchanges in markets?

Which economy blends market mechanisms with government intervention?

In a traditional economy, how are most decisions made?

A major drawback of a command economy is what?

In a market economy, who determines what to produce?

What role does government play in a mixed economy?

Which system typically uses supply and demand to set prices?

Global economies today are best described as?

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