Market vs. State-Controlled Economies Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A mixed economy is a mixture of:

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1. What type of economic system is one in which economic decisions, such as the production and pricing of goods, are based on supply and demand?

2. What economic ideology calls for all property, resources, and productions being publicly or state owned?

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About This Quiz & Worksheet

This quiz and corresponding worksheet will quickly gauge your knowledge of market economies vs. state-controlled economies. In order to pass the quiz you will need to identify characteristics of both types of economies.

Quiz & Worksheet Goals

This quiz/worksheet combo can help assess your knowledge of:

  • Economic ideologies
  • Definition of state-controlled economy
  • Economic system where production and prices rely solely on supply and demand
  • Definition of mixed economy

Skills Practiced

This quiz/worksheet combo can help you practice the following skills:

  • Interpreting information - verify that you can read information regarding a mixed economy and interpret it correctly
  • Information recall - access the knowledge you have gained regarding economic systems and ideologies
  • Reading comprehension - ensure that you can glean the most important information regarding the two main types of economies from the lesson on market and state-controlled economies

Additional Learning

To learn more about different types of economies, review the lesson titled Market vs. State-Controlled Economies. This economics lesson covers these objectives:

  • Define market economy
  • Identify characteristics of a state-controlled economy
  • Compare and contrast state-controlled economies and market economies
  • Understand properties of a command economy
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