Economic Systems

Economic Systems

6th - 8th Grade

15 Qs

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Economic Systems

Economic Systems

Assessment

Quiz

6th - 8th Grade

Medium

Created by

MaryBeth Broxterman

Used 58+ times

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15 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What are the 3 basic questions that every economy must answer?

What goods and services to produce?

When goods and services need to be produced?

Why goods and services need to be produced?

Who gets the goods and services produced?

How goods and services will be produced?

2.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What are the three basic types of economic systems?

Command Economies

Market Economies

Holistic Economies

Traditional Economies

Conservative Economies

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a traditional economy how are the 3 basic questions answered?

Government Planners

Agreements between buyers and sellers

Fighting among interested groups

Customs and Traditions

Voting on methods of production

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a command economy how are the 3 basic questions answered?

Government Planners

Agreements between buyers and sellers

Fighting among interested groups

Customs and Traditions

Voting on methods of production

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a market economy how are the 3 basic questions answered?

Government Planners

Agreements between buyers and sellers

Fighting among interested groups

Customs and Traditions

Voting on methods of production

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Because there are no countries that are completely one type of economic system, we say that ALL countries have an economy that is......

mixed

hybrid

mandated

decentralized

centralized

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of economic system do we see very little of in our modern world?

Command Economies

Market Economies

Holistic Economies

Traditional Economies

Conservative Economies

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