1) What is a key feature of a traditional economy? a) Customs guide production b) Government control c) Market-driven d) Private ownership 2) In a command economy, who decides what to produce? a) Government b) Consumers c) Businesses d) Traditions 3) What characterizes a market economy? a) Supply and demand b) Central planning c) Barter system d) Resource sharing 4) Which country has a mixed economy? a) Israel b) North Korea c) Cuba d) Saudi Arabia 5) How does a traditional economy decide for whom to produce? a) Customs and traditions b) Market demand c) Government policies d) Random selection 6) What is a disadvantage of a command economy? a) Lack of innovation b) High competition c) Resource scarcity d) Consumer choice 7) Which economic system is most associated with innovation? a) Market economy b) Command economy c) Traditional economy d) Mixed economy 8) In a mixed economy, who makes economic decisions? a) Both government and market b) Only government c) Only market d) Only traditions 9) What is a key feature of Saudi Arabia's economy? a) Oil-based b) Technology-driven c) Agricultural focus d) Service-oriented 10) Which economic system is most likely to have shortages? a) Command economy b) Market economy c) Traditional economy d) Mixed economy 11) What is a benefit of a market economy? a) Consumer choice b) Government control c) Resource allocation d) Price stability 12) How does Turkey's economy differ from Saudi Arabia's? a) More diversified b) Less diversified c) More oil-dependent d) Less industrialized 13) Which country has a significant technology sector? a) Israel b) Saudi Arabia c) Turkey d) Egypt 14) What is a common feature of mixed economies? a) Government and market roles b) No government role c) Only market role d) Only traditional role 15) How does a market economy decide how to produce? a) Efficiency and profit b) Government plans c) Traditions d) Random choice 16) What is a challenge for traditional economies? a) Limited growth b) High innovation c) Excessive competition d) Overproduction 17) What is a characteristic of Israel's economy? a) High-tech industry b) Oil dependency c) Agricultural focus d) Command structure 18) What is a common issue in command economies? a) Inefficiency b) Overproduction c) Consumer choice d) High competition

Economic Systems Quiz SS7E4

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