Economic Systems and the Circular Flow

Economic Systems and the Circular Flow

9th - 12th Grade

15 Qs

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Economic Systems and the Circular Flow

Economic Systems and the Circular Flow

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Jeff Malcolm

Used 7+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _____________ economy is completely determined and controlled by a central planning authority or the government

Traditional

Planned/Command

Mixed

Free Market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ______________ economy is guided primarily by custom, habit, and ritual.

Traditional

Planned/command

Mixed

Free Market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _________ economy is a market-based system in which the government is involved to some extent.

Traditional

Planned/command

Mixed

Free Market

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

_______________ would be an example of a modern mixed economy. (select all that apply!)

Germany

The United States

North Korea

Brazil

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The closest thing to a planned/command economy today exists in:

Soviet Union

Czechoslovakia

North Korea

South Korea

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram is called a:

Production Possibilities Curve

Supply and Demand Curve

Circular Flow Model

Circular Motion Equation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does point A represent on the Circular flow diagram?

Households

Businesses

Factor Market

Product Market

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