Traditional, command, market and mixed economies
Grade 7 Social Studies Worksheet - Building Confidence
Circle the best answer.
In Esme's table, what does the question "Who gets it?" ask?
- Which goods and services to produce first
- Which workers and tools to use
- How goods are shared out
- Who owns the land under a farm
Which question asks which workers and tools to use, Jun asks?
Use the picture in question 1.
- How to make it?
- What to make, and in what amount?
- Where is the nearest market?
- Who gets the goods at the end?
How many questions does each economy answer, by the table, Kira asks?
Use the picture in question 1.
- Three
- Five questions
- One question, about prices alone
- Ten questions
Luz reads the words economic system. What is an economic system?
Use the picture in question 1.
- A map of the world's trade routes
- A single shop that sells many kinds of goods
- A kind of money
- A way to decide what is made
Milo reads the word custom. What is a custom?
Use the picture in question 1.
- A tax on goods
- A long-followed way of doing things
- A price set by buyers and sellers
- A new rule written last week by a planner
Ren's chain has a blank: what do people make in a traditional economy?
- Nothing
- What their families long made
- Whatever brings the highest price this week
- Whatever a central plan sets for the year
Tala's chain has a blank: how are goods shared out?
- In long-standing ways
- They are not shared
- By a plan from a central office
- By prices that change each day in a market
Why does the custom box have two arrows going out, Zee asks?
- The arrows show two different villages
- One arrow is a mistake
- Custom has nothing to do with sharing goods
- It guides two things
What does the note say about traditional economies today, Ari asks?
Use the picture in question 8.
- They now set prices by supply and demand alone
- Parts of them carry on
- They have vanished from the world for good
- They are the same as command economies
Bo's friend says a traditional economy answers none of the three questions. Which reply fits?
Use the picture in question 8.
- Agree: traditional economies ask no questions
- Disagree: custom answers them
- Agree: a plan answers them instead
- Disagree: prices answer them