C&E: Types of Economies

C&E: Types of Economies

8th Grade

14 Qs

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C&E: Types of Economies

C&E: Types of Economies

Assessment

Quiz

History, Other

8th Grade

Medium

Created by

Megan O'Brien

Used 1+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

Capitalism

Socialism

Communism

2.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

A theory that advocates shared or governmental ownership of resources

3.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

An economic and social system in which private ownership is completely eliminated and society collectively owns the rights to all resources

4.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

These are the benefits of a free market economy (check all that apply)

Competition

The invisible hand

Government interference is discouraged

A dictator leads the economy

5.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

The buildings, equipment, and human skills used to produce goods and services

6.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

Money borrowed with a promise to pay it back later with interest

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An economic system that combines elements of market and command economies

Mixed Economy

Command Economy

Traditional Economy

Free Market Economy

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