Reffonomics Video -- Economic Systems

After watching the video, scroll down to take the three multiple choice questions.

1. Most of the nearly 200 countries of the world have what type of an economy?

A) Market Economy
B) Command Economy
C) Traditional Economy
D) Mixed Economy
E) Democratic Economy

2. All economic systems answer the following questions, EXCEPT:

A) What should be produced?
B) Why it should be produced?
C) How it should be produced?
D) For whom should it be produced?

3. An economy that is mostly driven by the laws of supply and demand is a:

A) market economy.
B) command economy.
C) traditional economy.
D) mixed economy.
E) socialist economy.