
Economics Review
Authored by Branden EastMillbrookMS
History
6th - 7th Grade
Used 9+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system involves government ownership of land and resources, as well as major industries?
Market
Traiditional
Command
Mixed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economy answers the basic economic questions by following customs and habits of the past?
Command
Market
Traditional
Mixed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economy allows business owners and consumers to decide the basic economic questions?
Command
Market
Traditional
Mixed
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term that refers to the fact that all economies of the world are truly a mix of market and command economies?
Market
Command
Mixed
Traditional
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You were trained in high school to operate a machine that builds cars. When you graduated high school, your government gave you a job. It does not pay much, but that's ok because most products do not cost much.
What type of economy do you live in?
Command
Market
Traditional
Mixed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limited availability of resources/not enough of something.
Goods
Services
Scarcity
Available
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something you would like to have but do not need.
Scarcity
Available
Want
Need
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