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5 Written questions

5 Matching questions

  1. traditional economy
  2. production process
  3. command economy
  4. mixed economy
  5. capital resources
  1. a buildings, machines, tools and equipment
  2. b based on customs and traditions, people do what their ancestors did (generations)/Africa (tribal society)/India (caste system)/South American rural societies
  3. c government controls/owns businesses and property, government makes all economic decisions/North Korea/Cuba
  4. d natural resources + human resources + capital resources = goods and services
  5. e there is no pure economy, each has some characteristic of another, economies can change/Russia/United States/China

5 Multiple choice questions

  1. resources are owned by private citizens, citizens can keep profits from their own businesses, price guides the marketplace/United States/China (somewhat)/Russia/European countries/Mexico
  2. services for producing or selling things - banking and retail
  3. process materials - manufacturing
  4. a job done for someone else
  5. one who grows agricultural products or manufactures goods

5 True/False questions

  1. productive resourcesnatural resources + human resources + capital resources = goods and services


  2. natural resourcesbuildings, machines, tools and equipment


  3. economyitems made or grown (produced)


  4. marketthere are not enough productive resources to provide all of the goods and services wanted by citizens


  5. economic systemhow a country's economy is organized, determines what to produce, how to produce it and who to produce it for