Economic Systems

Economic Systems

7th - 8th Grade

73 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Geography

7th - 8th Grade

Practice Problem

Hard

Created by

Jeanne Even

Used 27+ times

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73 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system do people get their resources handed down from generation to generation?

capitalism or market
traditional or subsistence
socialism or mixed
communism or command

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system are people allowed a great deal of individual freedom and are financially rewarded for their hard work?

capitalism or market
traditional or subsistence
socialism or mixed
communism or command

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system does the government collect taxes to pay for programs that will benefit all citizens?

capitalism or market
traditional or subsistence
socialism or mixed
communism or command

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Josh and Sadie live in a country that has a fairly high tax rate to support a large government which in turn provides all citizens with free education, welfare, healthcare, and social security. What type of economic system do Josh and Sadie have?

capitalism or market
traditional or subsistence
socialism or mixed
communism or command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what economic system do consumers freely decide what they want?

capitalism or market
traditional or subsistence
socialism or mixed
communism or command

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what economic system does the government make decisions on products?

capitalism or market
traditional or subsistence
socialism or mixed
communism or command

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Farmers who only grow enough food for their family with little surplus are known as...

subsistence farmers
commerical farmers
light farmers
heavy farmers

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