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SW Asia Economic System

SW Asia Economic System

Assessment

Presentation

Social Studies

7th Grade

Practice Problem

Medium

Created by

Maisha Cochran

Used 2+ times

FREE Resource

31 Slides • 28 Questions

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Multiple Choice

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Which of the following best describes a mixed economy?

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An economy where all decisions are made by the government.

2

An economy that operates without any government intervention.

3

An economy that incorporates elements of both market and command economies.

4

An economy where decisions are made solely through market forces without any regulation.

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Multiple Choice

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A command economy is characterized by which of the following?

1

High levels of competition among businesses

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Minimal government intervention in economic decisions

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Government making all economic decisions

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Consumer preferences determining production

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Multiple Choice

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What best describes a mixed economy?

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An economy that incorporates elements of both market and command economies.

2

An economy that relies solely on government control.

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An economy that is entirely based on free market principles.

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An economy that has no regulation or oversight.

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Multiple Choice

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This type of economy relies on government to make all economic decisions. What type of economy is this?
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Traditional
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Command
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Market
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Mixed

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Multiple Choice

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In a traditional economy what system is used to exchange goods?

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Currency

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Bartering

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Trading

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They don't produce enough to sell

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Multiple Choice

A system that relies on customs, history, and time-honored beliefs. Tradition guides  economic decisions such as production and distribution. Depends on agriculture, fishing,  hunting, gathering, or some combination of the above. They use barter instead of money.


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Traditional Economy

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Command Economy

3

Market Economy

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Multiple Choice

A ______ economy (or subsistence economy) is one based on custom and tradition, usually based on farming, fishing, hunting, and bartering.

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traditional

2

market

3

communal

4

imperial

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Multiple Choice

In a command economy, how is it determined what goods and services will be produced?

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Businesses decide what to produce on the basis of market conditions.

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Consumers decide through their behavior in the marketplace.

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Central government planning decides what will be produced.

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Supply and demand control production and price.

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Fill in the Blank

Economic system in which basic economic decisions are made by a central authority.

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Multiple Choice

what is the definition of command economy?
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economic system combining private and public enterprise.
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an economy in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
3
An economy in which production, investment, prices, and incomes are determined centrally by a government.

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Multiple Choice

Which of the following is a characteristic of a command economy?

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High levels of competition among businesses

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Prices are determined by supply and demand

3

The government plans and controls the economy

4

Consumers have a wide choice of goods and services

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Multiple Choice

What is the term used to describe the limited supply of something?

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Abundance

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Scarcity

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Surplus

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Economy

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Multiple Choice

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This type of economy is passed down through family traditions. They learn from their parents. 
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Traditional 
2
Market 
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Mixed 
4
Command 

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Open Ended

What are some current forms of money and how do people still engage in bartering?

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Multiple Choice

What goods/services will be produced in a traditional economy?

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People follow tradition & make what their ancestors made.

2

People innovate and create new products.

3

People rely on market demand.

4

People import goods from other countries.

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Multiple Select

In a command economy...…(check all that apply)

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the government regulates the economic decisions

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the people decide the system

3

mostly used under a Communist government

4

is a great system to live under

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Fill in the Blank

Economic system in which basic economic decisions are made by a central authority.

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Multiple Choice

What is the role of free enterprise in a market economy?

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It regulates prices

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It eliminates competition

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It helps make economic decisions

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It controls the government

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Multiple Choice

What are some potential consequences of a truly free market economy?

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No laws for safety of goods/services

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Increased government regulation

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More job security for workers

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Higher prices for consumers

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Multiple Choice

Which of the following would result in Brazil moving closer to the pure market side on the economic continuum?

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Brazil turning over government controlled industries to private businesses

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Brazil's government taking over all major industries

3

Brazil basing all economic decisions on traditions and customs

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Multiple Choice

What is the term used to describe an instruction given to a computer?

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Command

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Function

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Variable

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Loop

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Multiple Choice

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Which of the following is the CONTRAPOSITIVE of the statement below?

If a species walks on two feet, then

it is human.

1

If a species is not human, then it does not walk on two feet.

2

If a species is human, then it walks on two feet.

3

If a species does not walk on two feet, then it is not human.

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There is no contrapositive of the statement.

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Multiple Choice

What is the term that describes the conventional approach to education or methods?

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Modern

2

Innovative

3

Traditional

4

Progressive

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Multiple Choice

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A command economy is characterized by which of the following?

1

High levels of competition among businesses

2

Minimal government intervention in economic decisions

3

Government making all economic decisions

4

Consumer preferences determining production

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Multiple Choice

Which of the following best describes the role of supply and demand in a market economy?

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It determines the literacy rate of the country.

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It dictates the government's role in economic decisions.

3

It influences the prices of goods and services.

4

It has no impact on the economy.

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Multiple Choice

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Which of the following best describes a mixed economy?

1

An economy where all decisions are made by the government.

2

An economy that operates without any government intervention.

3

An economy that incorporates elements of both market and command economies.

4

An economy where decisions are made solely through market forces without any regulation.

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Multiple Choice

Penny is an artist, and John is a carpenter. Penny agrees to paint a portrait of John’s family in exchange for a handmade table created by John. How do Penny and John pay for their goods in their transaction? 
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using a store of value
2
through credit
3
through bartering
4
with currency

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Poll

How confident do you feel about this topic now?

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