Types of Economy

Types of Economy

6th - 8th Grade

18 Qs

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Types of Economy

Types of Economy

Assessment

Quiz

Social Studies

6th - 8th Grade

Practice Problem

Medium

Created by

Ashley Lipka

Used 50+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many types of economies are there?

3
5
4
2

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

A command economy would BEST be placed at which point on the diagram?

Point A

Point B

Point C

Point D

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Which point on the diagram BEST represents a free market/free enterprise economy

Point A

Point B

Point C

Point D

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Regulating and taxing businesses but generally allowing businesses to make their own decisions is a characteristic of what type of economy?

Command

Mixed

Free Market

Traditional

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The government makes the basic economic decisions such as which goods and services to produce, prices, and wage rates.

Traditional

Command

Market

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An economy in which changes in prices and consumer demand guide what and how goods and services will be produced, distributed, and consumed

Traditional

Command

Market

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An economic system in which decisions are all made on the basis of customs, beliefs, religion and habits.

Traditional

Command

Market

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