Economic Systems and Comparative Economics
Description: This quiz covers the concepts of economic systems and comparative economics. It explores the various types of economic systems, their characteristics, and how they compare to each other. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: economic systems comparative economics market economy command economy mixed economy |
Which economic system is characterized by private ownership of resources, freedom of choice, and profit motive?
In a command economy, who makes the decisions about what goods and services to produce, how to produce them, and who gets them?
Which economic system combines elements of both market economies and command economies?
What is the main goal of a traditional economy?
Which economic system is characterized by the absence of private property and the communal ownership of resources?
What is the main advantage of a market economy?
What is the main disadvantage of a command economy?
Which economic system is most likely to experience rapid economic growth?
Which economic system is most likely to promote social equality?
Which economic system is most likely to protect the environment?
What is the main challenge facing developing countries in their efforts to achieve economic growth?
Which economic system is most likely to experience high levels of economic inequality?
What is the role of government in a mixed economy?
Which economic system is most likely to experience high levels of economic instability?
What is the main goal of comparative economics?