Global Regulation of Domestic Economic Activity & Wealth

Instructions:

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

question 1 of 3

When speaking of global economies the term 'domestic' denotes

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1. What type of system exists when the economy and distribution of resources are based on ritual, habit, and custom?

2. What type of existence level is defined as producing only enough to support one's self or one's family group?

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About This Quiz & Worksheet

Focusing our attention on how the various economies of the world are run, this quiz and corresponding worksheet will help you gauge your knowledge of global economic systems. Topics you'll need to know to pass the quiz include understanding what the term domestic denotes.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • Definition of domestic
  • Systems that exist when the economy and distribution of resources are based on habit and custom
  • An existence level that is created to produce enough to support an individual or a family group

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related economic systems lesson
  • Interpreting information - verify you can read information regarding how various systems are run and interpret it correctly
  • Defining key concepts - ensure that you can accurately define main phrases and terms, such as global regulation

Additional Learning

To learn more about what makes the world go around for different countries, review the corresponding lesson on Global Regulation of Domestic Economic Activity & Wealth. This lesson will help you:

  • Define what domestic means
  • Identify the four types of economic systems
  • Understand the characteristics of each of the types of economies
  • Describe the two components of a mixed economy system
  • Appreciate the countries that use their respective economic systems
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