Name
Date
Period
Workbook Activity
Chapter 2, Lesson 1
5
Three Basic Economic Questions
Directions Use the chart below to organize the basic economic questions.
At the top of each box, write one of the three economic questions. Then
below the question, add information to explain what it means.
Economic
Question:
What It
Means:
Three
Basic
Economic
Questions
Economic
Question:
Economic
Question:
What It
Means:
What It
Means:
©AGS Publishing. Permission is granted to reproduce for classroom use only.
Economics
Name
Date
Period
Workbook Activity
Chapter 2, Lesson 2
6
Two Common Economic Systems
Directions Write the answers to these questions. Use complete sentences.
1. How does a traditional economy answer the three basic economic questions?
2. Where are traditional economies usually found?
3. Describe the traditional economy of the Inuits.
4. What is a command economy?
5. In the former Soviet Union, what happened to consumer goods when
the country became an industrial power?
6. Under socialism, who owns a country’s major industries?
7. What is a democracy?
8. What type of economic system is found in many European countries?
9. Which economic system is based on the belief that people work to the
best of their abilities?
10. In a dictatorship, how are people ruled?
©AGS Publishing. Permission is granted to reproduce for classroom use only.
Economics