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1 Economics Overview

Authored by Dane Lancaster

Business, Social Studies

8th Grade

Used 12+ times

1 Economics Overview
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29 questions

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1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

A mixed economy combines the best parts of which other economies? This question has two correct answers.

Market and Command

Traditional and Market

Command and Traditional

Socialism and Capitalism

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The characteristic of a mixed economy that states that the vast majority of labor, resources, and capital goods are owned by individuals rather than by the government is...

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The characteristic of a mixed economy that states that business owners, consumers and workers are free to make choices that best fit their needs and interests is called

Private Property

Freedom of enterprise and choice

Motive of Self-Interest

Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This characteristic states that the Invisible Hand is the driving force of a Mixed Economy.

Private Property

Freedom of enterprise and choice

Motive of Self-Interest

Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This characteristic of a Mixed Economy describes the natural rivalry created when two businesses offer the same, or similar, goods.

Competition

Freedom of Enterprise and Choice

Private Property

Motive of Self-Interest

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"A market exists wherever and whenever buyers and sellers can come together." Which characteristic does this describe?

Private Property

Competition

A System of Markets and Prices

Limited Government

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the government regulates business ensuring fair, safe and ethical practices it is an example of which characteristic of a Mixed Economy?

A System of Markets and Prices

Competition

Motive of Self-Interest

Limited Government

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