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Economics Assessment SS

Authored by Amber Maiorana

History

6th - 8th Grade

Used 21+ times

Economics Assessment SS
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What causes producers, consumers and government decision makers to make economic choices?

Supply

Demand

Scarcity

Opportunity costs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you make a decision the thing you choose not to do is called the:

Second best alternative

Opportunity Cost

Choice

Resource

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the key factor in determining the type of economy a country has?

Their currency

Their inflation rates

The extent their government is involved

The extent the people are involved

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In this type of economy decisions are based on custom and historical precedent and people often perform the same types of work as past generations regardless of ability of potential:

Traditional Economy

Command Economy

Free Market Economy

Mixed Economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In this type of economy there is private ownership of property/resources, competition, consumer sovereignty and individual choice play a major role with minimal government involvement:

Traditional Economy

Command Economy

Free Market Economy

Mixed Economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In this type of economy this is central ownership of property/resources (usually by the government), there is also a centrally planned economy with lack of consumer choice:

Traditional Economy

Command Economy

Free Market Economy

Mixed Economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In this type of economy individuals and businesses are owners and decision makers for the private sector and the government is owner and decision maker for the public sector:

Traditional Economy

Command Economy

Free Market Economy

Mixed Economy

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