Gov Honors Economics Review

Gov Honors Economics Review

10th Grade

20 Qs

quiz-placeholder

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Gov Honors Economics Review

Gov Honors Economics Review

Assessment

Quiz

History

10th Grade

Hard

Created by

Logan Webster

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, when you are faced with choices the option that you don't choose is referred to as this.

Benefit

Scarcity

Opportunity Cost

Loss

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, when faced with choices the option you choose is called this

Benefit

Scarcity

Opportunity Cost

Gain

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the three basic economic questions?

What to produce?

When to produce?

How to produce?

For whom to produce?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy features the government holding all the decision making power?

Market

Command

Mixed

Traditional

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Knowing that North Korea has an authoritarian type of government, what type of economy would you expect N. Korea to have?

Market

Command

Mixed

Traditional

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy is orchestrated primarily based on what people want and what businesses know will sell (supply and demand)?

Market

Command

Mixed

Traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Countries sometimes switch to this type of economy during times of war in order to focus their country on the essential resources needed for war.

Market

Command

Mixed

Traditional

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