Economic Concepts Quiz
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Questions and Answers

What economic system is being described in the text?

  • Free market
  • Traditional market
  • Mixed market
  • Command market (correct)

    • What did the state planners in Country A decide to produce?

  • Automobiles (correct)
  • Food
  • Textiles
  • Electronics

    • What did the state planners do after making their decision?

  • They left it up to the factories to decide how much to produce
  • They closed down all the factories
  • They allocated resources to factories to produce automobiles (correct)
  • They decided to produce all consumer goods

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