Economic Questions and Systems Quiz
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Questions and Answers

Which of the following is not one of the five fundamental economic questions?

  • What to produce
  • When to produce
  • Why to produce (correct)
  • How to produce
  • Which type of economic system is based on passing tasks from one generation to another through custom?

  • Command economy
  • Mixed economy
  • Traditional economy (correct)
  • Market economy
  • What determines where goods and services are produced in an economic system?

  • Seasons
  • Demand
  • Custom (correct)
  • Technology
  • Which economic system refers to a set of economic institutions that dominate a given economy?

    <p>Market economy</p> Signup and view all the answers

    What is the main objective of an economic system?

    <p>To solve basic economic problems</p> Signup and view all the answers

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