Economic & Government Test Review📑

Question 1

What are the three economic systems? 🤔

Answer 1

Market, traditional, and command

Question 2

What are the two kinds of government? 🧐

Answer 2

Limited and unlimited

Question 3

Draw arrows to represent the relationship between literacy rate and the standard of living.✏️

Answer 3

If one is high the other one is too, if one is low so is the other.

Question 4

Which economic system is it?

Business (ran by private citizens) determine what goods/services are produced and how they will be made. 🧳

Answer 4

Market

Question 5

Which economic system is it?

In this system, your parents were peanut farmers, now you have to be a peanut farmer too. 🥜

Answer 5

Traditional

Question 6

Which economic system is it?

The government makes ALL economic decisions. 📄

Answer 6

Command

Question 7

What is the standard of living? 🤨

Answer 7

How well-off the country’s population is.

Question 8

Give an example of a limited government ruler. 😕

Answer 8

President or constitutional monarchy

Question 9

Give an example of an unlimited government ruler.💼

Answer 9

Dictator or absolute monarchy

Question 10

What does “literacy rate” mean? 🤔

Answer 10

Percentage of people that can read and write over the age of fifteen.