
Unit #1 Standard #4
Authored by Adam Yurgionas
Social Studies
12th Grade
Used 524+ times

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28 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
"In these (economic) structures, people looked to past practices plus cultural and religious beliefs to decide what to produce, how to produce it, how products would be distributed, and even when tasks should be performed."
What type of economy is the author of this statement describing?
command economy
mixed economy
traditional economy
market economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, ultimate power rests with
the government
the military
consumers
union leaders
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy is illustrated by these statements?
The state sets the price of consumer goods. A factory manager meets production quotas for the month. A central planning agency determines wages for agricultural workers.
market
command
traditional
laissez-faire
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy with minimal government involvement is a
market economy
command economy
traditional economy
mixed economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Free Market
Capitalism
Communism
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This Economic system is also called a Capitalist, or Free Market, system. This system encourages Entrepeneurs, Private Property Rights, and little government interference in the economy.
Communism
Command Economy
Mixed Economy
Market Economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An Economic System that is centrally planned by the government. Individual consumers and producers do not make the basic economic decisions.
Traditional Economy
Market Economy
Command Economy
Mixed Economy
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