Fundamentals Review

Fundamentals Review

9th - 12th Grade

13 Qs

quiz-placeholder

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Fundamentals Review

Fundamentals Review

Assessment

Quiz

History

9th - 12th Grade

Medium

Created by

Rholine Rose

Used 12+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which describes scarcity?

unlimited wants but limited resources
a method for determining equity
a type of economic system
a type of business organization

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mr. Chapelle owns a car wash and hires Ray and Charles who use the towels to wash the cars. In this scenario Mr. chappelle is

land
labor
capital
entrepreneurship

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not one of the 3 basic economic questions

What goods and services are produced?
How should goods and services be produced?
Who receives the goods and services?
How do we share the resources?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The inuits live in Canada in harsh climates and they believe in herding only for subsistence and they strongly support their customs. In this scenario, which economic system is represented?

market
traditional
command
socialism

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The US prides itself in freedom of choice and private ownership of property. The economic system in the US is a 

traditional
market
mixed market
command

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which broad social and economic goals does the market economy achieve best?

economic freedom and economic efficiency
Economic equity and economic freedom
Economic equity and economic efficiency
economic stability and economic freedom

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which broad social and economic goals does the command achieve best

economic freedom and economic equity
economic efficiency and economic stability
economic equity and economic security
Economic freedom and economi stability

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