Economic Systems Answers

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1
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The goal of a command economy is to

A
sustain self-sufficiency.
B
preserve traditional customs.
C
create equality within a society.
D
promote free economic choices.
2
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The goal of a market economy is to

A
sustain self-sufficiency.
B
preserve traditional customs.
C
create equality within a society.
D
promote free economic choices.
3

How does the government of a republic typically shape its economy?

A
The government allows citizens to own private businesses.
B
The government blocks the ownership of personal property.
C
The government owns all homes and other forms of housing.
D
The government controls factories and other forms of production.
4

Which statement best describes a pure market economy?

A
Producer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
5

The most common economic system in the world is a

A
closed economy.
B
command economy.
C
mixed market economy.
D
traditional economy.
6

What restriction would the government impose in a closed economy?

T
The government would prohibit trade with other nations.
T
The government would set the prices for imported goods.
T
The government would preserve traditional customs only.
T
The government would prevent private ownership of property.
7

What are the pros of a mixed market economy for most citizens? Select three answers.The government provides most basic necessities for citizens.There is a great deal of independence and personal choice.There may be less of a gap between rich and poor people.The government cannot dictate which jobs citizens hold.There may be greater opportunity to become wealthy.The economic system works to promote equality.

A
The government provides most basic necessities for citizens.
B
There is a great deal of independence and personal choice.
C
There may be less of a gap between rich and poor people.
D
The government cannot dictate which jobs citizens hold.
E
There may be greater opportunity to become wealthy.
F
The economic system works to promote equality.
8

What is prohibited in a command economy? Select two answers.the control of prices and income levelsthe rationing of manufactured goodsthe personal ownership of propertythe influence of consumer demandthe intervention of the government

A
the control of prices and income levels
B
the rationing of manufactured goods
C
the personal ownership of property
D
the influence of consumer demand
E
the intervention of the government
9

Which statement best describes a mixed market economy?

A
Consumer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
10

Which nation has a communist command economy?

A
Norway
B
North Korea
C
South Korea
D
the United States
11

How does the electron-cloud model describe electrons?

A
The exact position of an electron can be known.
B
An electron can be found at certain distances from the nucleus.
C
An electron has a high probability of being in certain regions.
D
Each electron follows a specific path around the nucleus.
12

The citizens of the United States live and work in a

A
closed economy.
B
command economy.
C
mixed market economy.
D
pure market economy.
13

Which observation provided Albert Einstein the clue that he needed to explain the photoelectric effect?

A
Light is made up of extremely small particles.
B
Particles that are emitted from a strip of metal are electrons.
C
Shining light on a metal strip produces emissions.
D
Energy of electrons depends on light’s frequency, not intensity.
14

How does the economy of Cuba differ from the economy of North Korea?

A
In North Korea, the government’s control of the economy has begun to loosen. In Cuba, the government maintains a tight hold over the economy.
B
In Cuba, the government’s control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy.
C
In North Korea, there is economic uncertainty in exchange for individual choice. In Cuba, there is economic security in exchange for government control.
D
In Cuba, there is economic uncertainty in exchange for individual choice. In North Korea, there is economic security in exchange for government control.
15

Which statement best describes a pure market economy?

A
Producer intervention in economic choices is strictly forbidden.
B
The government determines economic choices and makes most decisions.
C
The decisions made by producers and consumers drive all economic choices.
D
Producers and consumers make some economic choices while the government makes others.
17

What are the pros of a mixed market economy for most citizens? Select three answers.

A
The government provides most basic necessities for citizens.
B
There is a great deal of independence and personal choice.
C
There may be less of a gap between rich and poor people.
D
The government cannot dictate which jobs citizens hold.
E
There may be greater opportunity to become wealthy.
F
The economic system works to promote equality.
18

Which statement about Niels Bohr’s atomic model is true?

A
Higher orbits have lower energies.
B
Each orbit has a specific energy level.
C
Electrons can exist in any energy level.
D
Orbits close to the nucleus have no energy.
19

Which nation has a communist command economy?

A
Norway
B
North Korea
C
South Korea
D
the United States
20

The diagram shows Niels Bohr’s model of an atom. What happens when the electron moves from the first energy level to the second energy level?

Question illustration
A
Energy is absorbed, and an emission line is produced.
B
Energy is released, and an emission line is produced.
C
Energy is absorbed by the atom.
D
Energy is lost from the atom.

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