Types of Economies and Money Terms

Types of Economies and Money Terms

7th - 8th Grade

14 Qs

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Types of Economies and Money Terms

Types of Economies and Money Terms

Assessment

Quiz

History

7th - 8th Grade

Medium

Created by

Heather Wilckens

Used 141+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Economic decisions are based on custom and historical precedent.

Traditional Economy

Free Market Economy

Mixed Economy

Command Economy

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

There is private ownership of property and resources.

Traditional Economy

Free Market Economy

Mixed Economy

Command Economy

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

There is a lack of consumer choice and property and resources are usually owned by the government (central ownership).

Traditional Economy

Free Market Economy

Mixed Economy

Command Economy

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

There is a private and public sector.

Traditional Economy

Free Market Economy

Mixed Economy

Command Economy

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Most economies today, including the United States, is this type of economy.

Traditional Economy

Free Market Economy

Mixed Economy

Command Economy

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

This economy is driven by consumer sovereignty, profit motive, and has minimal government involvement.

Traditional

Free Market

Mixed

Command

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The worldwide markets in which the buying and selling of goods and services by all nations is called the ___

Economy.

World

Global

Continental

National

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