
Economics
Quiz
•
History
•
7th Grade
•
Hard
+1
Standards-aligned
Nick Guertin
Used 13+ times
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27 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Economic Characteristics:
The means of production are privately owned and operated for a private profit.
The emphasis is on individual profit rather than on workers or society as a whole.
Which economic system does the above summary describe?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Communist countries have what type of economic system?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of economic system allows government and private businesses to make economic decisions?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of economic system allows private businesses to decide what to produce, how to produce and for whom to produce?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system that uses bartering or trading.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Government controls all aspects of economy
Example: The government owns most of the property, sets the prices of goods, determines the wages of workers, plans what will be made…everything
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economy based on what their parents have always done and what their parents have always done.
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