What is Economy?

What is Economy?

5th - 7th Grade

30 Qs

quiz-placeholder

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What is Economy?

What is Economy?

Assessment

Quiz

History

5th - 7th Grade

Hard

Created by

Kerry Swindell

Used 20+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In a command economy decisions about what, how, and for whom to produce are determined by

the government
supply and demand
cultural traditions 

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In a market economy decisions about what, how, and for whom to produce are determined by

the government
supply and demand
cultural traditions 

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A country can increase its human capital by investing in 

education for its citizens
new machinery for factories
railroads and airport

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these is found in a market economy but not in a command economy?

Competition
Goods and Services
Consumers and Producers

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In which economic system are economic decisions made by the interaction of buyers and sellers?

Traditional
Command
Market

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

During World War II, Australia stopped all trade with Japan because the countries were on opposite sides of the war.

Tariff
Quota
Embargo

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which economic system is also called a "planned economy"?

Traditional
Command
Market

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