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Economic Systems

Economic Systems

Assessment

Presentation

Business

9th - 12th Grade

Medium

Created by

Darek Farmer

Used 28+ times

FREE Resource

1 Slide • 9 Questions

1

Economic Systems

After reading Section B, answer the following questions

Slide image

2

Multiple Choice

The way in which an economic system answers the basic economic questions depends upon the country’s

1

supply

2

government

3

demand

4

products

3

Multiple Choice

In a traditional economic system, the question of what to produce is answered by producing

1

what the government chooses.

2

what consumers need and want.

3

what supply dictates.

4

what has always been produced.

4

Multiple Choice

In a communist command economy, who decides how the economic questions will be answered?

1

Businesses

2

Individuals

3

Government

4

A venture team

5

Multiple Choice

In a socialist economic system, who tends to answer the question of how products will be produced?

1

Government and business

2

Government and individuals

3

Business and individuals

4

Tradition and government

6

Multiple Choice

What action do consumers take that determines what will be produced in a market economy?

1

Apply for jobs

2

Cast economic votes

3

Produce products

4

Comparison shop

7

Multiple Choice

Lack of economic growth is a major problem for __________ economic systems.

1

traditional

2

communist command

3

market

4

socialist command

8

Multiple Choice

Communist command economies are most likely to experience which of the following problems:

1

Shortage of capital investment

2

Surplus of consumer goods

3

Poor quality products

4

High income taxes

9

Multiple Choice

A major problem for individuals and private businesses in a socialist command economy is

1

a lack of competition.

2

taxes.

3

a shortage of consumer goods.

4

profit.

10

Multiple Choice

Which of the following is a potential problem in market economies:

1

No competition

2

Total government control

3

Production quotas for businesses

4

Financial loss

Economic Systems

After reading Section B, answer the following questions

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