Ch. 2 "Economic Systems"

Ch. 2 "Economic Systems"

9th - 12th Grade

42 Qs

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Ch. 2 "Economic Systems"

Ch. 2 "Economic Systems"

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Ryan McKay

Used 2+ times

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42 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The purpose of government in a command economy?

ensure the availability of consumer products

encourage entrepreneurs

make major economic decisions

promote economic freedom

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An economic system in which individuals and businesses make decisions about what to produce.

Market economy

Mixed economy

Communism

Command economy

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which provides the greatest incentive for entrepreneurs to take risks?

prices
inflation
profits
interest

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

With which term is a command economic system MOST closely associated?

Entrepreneurship

Economic Freedom

Perfect competition

Governmental regulation

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What type of economic system is based on customs and beliefs?

Market
Mixed
Traditional
command

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A person who comes up with a product or service, and finds the money and time to produce this new product.

Entrepreneur
Incentive
Specialization
Barter

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Sam loves science and wants to become a doctor but he is learning how to make clay bricks like his father and grandfather.

Free Market
Traditional
Mixed
Command

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