Economics Review

Economics Review

9th - 12th Grade

21 Qs

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Economics Review

Economics Review

Assessment

Quiz

Geography

9th - 12th Grade

Medium

Created by

Andrea Barrientez

Used 18+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which region is the MOST developed?

Latin America & Caribbean
Sub-Saharan Africa
Western Europe
Asia

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"My family owns a large tire factory. We have 1,200 employees, and we sell our tires to retailers around the globe. We are able to set our own prices based on the supply of our materials and the demand from our customers. Because of the rising fuel costs, we might have to lay off about 100 employees."
What type of Economic System does this business represent?

Traditional
Free Market
Communist

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What level of economic activity does Country X have the most of?

Primary
Secondary
Tertiary

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economic system has the government owning all industries and setting all prices?

Free Market
Socialism
Communism
Traditional

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the government in a Socialist Economic System?

Owns Major Industries to make things more fair.
Own all businesses to create equality
The government had little role

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a traditional economy, the way goods are produced and the jobs are learned from __________________.

school
university
family
on the job training

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main force that drives a free market economy?

The government controls products and prices
Supply and Demand- the producers and consumers determine what is produced
Traditional methods control the economy

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