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5 Written questions

5 Matching questions

  1. traditional economy
  2. developing nation
  3. collectivization
  4. quota system
  5. private enterprise
  1. a the process of taking over privately owned property
  2. b a system that sets aside a certain number of jobs or admission openings for ethnic groups and women
  3. c the capitalist system
  4. d an economy is which people exchange goods and services
  5. e a nation whose economy is based on farming and the export of natural resources

5 Multiple choice questions

  1. a combination of small farms that have been taken over by the government
  2. a block in international trade put in my place by the government
  3. a government payment to the producer of a good or service
  4. means of production
  5. an economy in which the government is involved in setting economic and social policies

5 True/False questions

  1. socialisman economic system in which the government owns the basic means of production and decides how resources should be used


  2. factors of productionthe basic resources in an economic system


  3. market economyan economy in which buyers and sellers decide what to make, how much to make, and for whom


  4. capitalismmeans of production


  5. free tradetrade without barriers