Economics

Economics

7th Grade

12 Qs

quiz-placeholder

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Assessment

Quiz

History

7th Grade

Hard

Created by

Deborah Ramseur

Used 2+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A product of the earth ("gift of nature") that people use to meet their needs is a:

service

free enterprise

good

natural resource

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number limit on how many items of a particular can be imported from a particular country is the:

supply

tariff

quota

demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic system of communist countries is most closely related to which of the following:

market economy

mixed economy

traditional economy

command economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the basic questions that all economic systems must answer:

What to produce?

For whom to produce?

How to produce?

How much to produce?

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market economy is very different from a command economic system or a traditional system. Which of the following is found in a market economy?

government control agriculture

free labor

competition between businesses

government control of industry

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, economic decisions are made by

producers

consumers

government

market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of human capital?

roads

machinery

factories

education

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