Marketing 3.04

When interpreting the question for whom should the goods and services be produced, which question should also be asked?
1. Do individuals decide where the products should be made?
2. Does the government make the decision dictating how the goods and services should be produced?
3. Does the government make the decision on how much should be made?
4. Does the government make the decision on who can purchase the products or who will be given the products?
Socialism is considered a mixed economy because:
1. The people elect the government officials who represent their interests.
2. There is no government involvement in any aspect.
3. They are capitalistic with increased government involvement with the goal of reducing the difference between the rich and poor.
4. They have a government run by one political party which controls everything.
The three economic questions are answered based on how things have continually been done in the past. This is an example of which type of economy?
1. Command
2. Market
3. Mixed
4. Traditional
When answering the question for whom should the goods and services be produced, which questions should also be asked?
1. Do individuals decide where the products should be made?
2. Does the government make the decision on how much should be made?
3. Is it based on the tradition of who has always purchased the products?
4. Who makes the decision of what goods and services should be produced?
Which is a characteristic of a traditional economic system?
1. Decisions are made by individual consumers and business owners.
2. Decisions are made primarily by the government to maintain order.
3. Decisions are based strictly on the way things have always been done.
4. Decisions are made to maintain and promote competition among businesses.
Communism is considered a mixed economy because:
1. The government tries to reduce the difference between the rich and the poor.
2. The people elect the government officials who represent their interests.
3. There is no government involvement in any aspect.
4. They have a government run by one political party which controls everything.
Which identifies the three economic questions all societies face?
1. What to produce, how to produce, and for whom to produce?
2. What to produce, how to produce, and where to produce?
3. Where to produce, what to produce, and for when to produce?
4. Where to produce, what to produce, and for whom to produce?
What are the three basic economic questions?
1. What to produce; how to produce; and for whom to produce
2. When to produce; how to produce; and for whom to produce
3. When to produce; what to produce; and for whom to produce
4. Where to produce; when to produce and what to produce
Great Britain is a capitalist country with increased government involvement. One of the goals is to reduce the differences between the rich and poor. This is an example of which mixed economy?
1. Anarchy
2. Capitalism
3. Communism
4. Socialism
In this type of economy, the government answers the three basic economic questions.
1. Command
2. Market
3. Mixed
4. Traditional
In which economy do the government officials or leaders decide what should be produced, which businesses will create the products, and who will receive the products?
1. Command
2. Market
3. Mixed
4. Traditional
Which is a characteristic of communism?
1. Businesses decide who products will be produced.
2. It is a mix of traditional and market economies.
3. People do not pay for medical care.
4. The decisions of what to produce are based on what has always been done.
Which is characteristic of capitalism?
1. It is a mix of traditional and market economies.
2. People do not pay for medical care.
3. The decisions of what to produce are based on what has always been done.
4. The people elect government officials who represent them.
When there is no government involvement in answering the three basic economic questions, this is which economy?
1. Command
2. Market
3. Mixed
4. Traditional
In a command economy, the answer to the question "Who received the goods produced?" is determined by:
1. Customs
2. Government officials
3. The consumers
4. The persons purchasing the goods
In a traditional economy, such as the Amish Community, the answer to the question "Who receives the goods produced?" is determined by:
1. Government officials
2. The consumers
3. The persons purchasing the goods
4. Tradition
The United States and Japan have which mixed economy?
1. Anarchy
2. Capitalism
3. Communism
4. Socialism
Canada, France, Germany, and Great Britain have which market economy?
1. Anarchy
2. Capitalism
3. Communism
4. Socialism

Marketing - Objective 3.04

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