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Economics system

Economics system

Assessment

Presentation

Business

11th Grade

Practice Problem

Medium

Created by

Shauna-Kay Herah

Used 95+ times

FREE Resource

17 Slides • 13 Questions

1

Economics system

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5

Multiple Choice

A doctor is giving you a check up. Is this a good or service?
1
good
2
service

6

Multiple Choice

A taxi taking you to the airport is a good or a service?
1
service
2
good

7

Multiple Choice

Good or a service? Buying a pair of new shoes
1
good
2
service

8

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9

Multiple Choice

When a government decides only people who have paid an annual fee will get certain services, such as firefighting services, which of the three economic questions does it answer?

1

Is this a good way to allocate services?

2

How should it be produced?

3

Who should get the goods produced?

4

Is it fair to deny services?

5

What should be produced?

10

Multiple Choice

When a firm decides on the right mix of capital and labor to use, which of the three basic economic questions does it answer?

1

Is this a good way to allocate services?

2

How should it be produced?

3

Who should get the goods produced?

4

Is it fair to deny services?

5

What should be produced?

11

Multiple Choice

An economic system answers three questions about goods and services. Which of the following option is NOT one of these questions?

1

What to produce?

2

Who receives the products?

3

How to produce?

4

Where to produce?

12

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14

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15

Multiple Choice

The four types of economic systems are: 
1
Traditional, Command, Mixed, & Market
2
Traditional, Command, Combined, & Market
3
Communism, Capitalism, Free Market, and Macroeconomics
4
Microeconomics, Macroeconomics, Individual, and Traditional.

16

Multiple Choice

Economic decisions are based on past customs and traditions in the Traditional economy.

1

True

2

False

17

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20

Multiple Choice

In the command economic economic decisions are made by both firms and the government

1

True

2

False

21

Multiple Choice

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A command economy gives people the motivation to work hard:

1

True

2

False

22

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25

Multiple Choice

An economic system in which individuals and businesses make decisions about what to produce.

1

Market economy

2

Mixed economy

3

Communism

4

Command economy

26

Multiple Choice

A Market Economy is based on?

1

Goods and Services

2

Goods and Products

3

Supply and Demand

4

Service

27

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28

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29

Multiple Choice

What type of economy do most countries in the world have?
1
Market economy
2
Command economy
3
Traditional economy
4
Mixed economy

30

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Economics system

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