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Types of Economic systems

Authored by Alan Long

Social Studies

12th Grade

Used 2+ times

Types of Economic systems
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14 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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I have a problem with having enough resources. What basic question of economics solves this? 

What to produce?
How to produce?
When to produce? 
For whom to produce? 

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

Traditional 
Market 
Command 
Mixed

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

In this type of economy, the individual decides who to sell their products to.  

Traditional 
Mixed 
Market
Command

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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This type of government typically goes with the Command Economy.  

Democracy
Dictatorship
Autocracy
Communism

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

The government has little to no role in the production of goods in this type of economy. 

Traditional 
Mixed
Command 
Market

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Economics seeks the answer to the basic question of how to deal with ______. 

money
hunger
demand
scarcity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

Market
Mixed
Command
Traditional

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