10 (B)

In Indonesia, the government owns large industries and sets some prices. However,

private businesses are also encouraged and several hundred are actively traded on

the Indonesian Stock Exchange. This country’s economy system can best be classified as —

A.        traditional

B.        free enterprise

C.        socialist

D.        communist

"The Minister of Economics has created a plan for the economy which emphasizes the production of iron, steel, and hydroelectric power.  In manufacturing, such goods as tanks and tractors will receive high priority.  Consumer goods are regarded as less essential. The people are expected to sacrifice comfort in order to raise the level of industrialization of their country."

Based on the information above, the Minister of Economics most likely lives in a country that uses —

A.        traditional economics.

B.        free enterprise economics.

C.        socialist economics.

D.        communist economics.

What do Laos, Vietnam, China, Cuba, and North Korea all have in common?

A.        Their economic systems are run by a central government.

B.        They are all nations in East Asia.

C.        They are all part of a socialist trade union.

D.        Supply and demand guide their free enterprise economic systems.

On the spectrum above, where would you place the Soviet Union under Joseph Stalin? 

A

B

C

D