economic systems

economic systems

3rd Grade

22 Qs

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economic systems

economic systems

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3rd Grade

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22 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a command economy, who holds power over the economy?

The people
The government 
Beyonce
The traditions of your ancesetors 

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are the 3 economic questions?

What to produce? How To Produce? For whom to produce?
Who to produce? Why you produce? Like to produce?
Why to produce? Tell who to produce? Things to produce?

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the government makes me produce 70 T-Shirts, what economic system is this?

Mixed
Traditional
Command
Market

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which economy is dictated by supply and demand and the buyers and sellers?

Market
Socilaism 
Mixed 
Command 

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

Traditional 
Market 
Command 
Centrally Planned 

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person who comes up with a product or service, and finds the money and time to produce this new product.

Entrepreneur
Incentive
Specialization
Barter

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A free enterprise system is one in which-

The government  owns and operates all of the businesses and industries
Private citizens own and operate most of the businesses  and industries

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