ss7e3

ss7e3

7th Grade

15 Qs

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ss7e3

ss7e3

Assessment

Quiz

History

7th Grade

Practice Problem

Medium

Used 90+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Domestic Product
is a measure of the total value of all.....

Consumer income in an economy over a period of time
Capital accumulation in an economy over a period of time.
Sales in an economy over a period of time.
The goods and services produced in an economy over a period of time

2.

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 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nigeria specializes in _____.

Oil
Diamonds
Gold
Technology

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an economic system in which economic decisions are made according to social roles & culture?

Market economy
Command economy
Traditional economy
Mixed economy

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Market
Socilaism 
Mixed 
Command 

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

30 sec • 1 pt

The amount of a good that is available.

supply
demand
scarcity
opportunity cost

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