Economics: UNIT 2 Review "Economic Systems"

Economics: UNIT 2 Review "Economic Systems"

11th - 12th Grade

30 Qs

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Economics: UNIT 2 Review "Economic Systems"

Economics: UNIT 2 Review "Economic Systems"

Assessment

Quiz

History, Specialty

11th - 12th Grade

Medium

Created by

Chris DAngelo

Used 56+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many major economic systems are there?

1
2
3
4

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The organized way in which a society provides for the wants and needs of its people is called a _____. 

political system
economic system
scientific system
artistic system

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic system in which the use of scarce resources and almost all economic activity comes from ritual, habit, or custom

Market Economy
Command Economy
Traditional Economy
mixed economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Few pure _______ economies exist today

mixed 
command 
market 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

System where a central authority makes the major decisions about what, how, & for whom to produce

traditional economy
mixed economy
market economy
command economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 A market is an arrangement that allows buyers and sellers to come together to exchange goods & services.

true
false

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following items accurately describes a traditional economy?

Government officials tend to favor themselves when making economic decisions
Use of resources and economic activity, is based on ritual, habit, or custom
Lots of individual freedom
Economy of most countries in the world

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