Economic Systems
Authored by Shelly Quance
Social Studies
5th - 7th Grade
Used 984+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The economic system of communist countries is most closely related to which of the following:
Command
Market
Traditional
Mixed
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT one of the basic questions that all economic systems must answer:
What to produce
How to produce
How much to produce
For whom to produce
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In a command economy, economic decisions are made by the
Consumers
market
government
producers
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Who owns the resources in a command economy?
the government
no one
individuals
private business
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How are goods and services exchanged in a traditional economy?
through prices and wages
through government regulation
through bartering
through shortages and surpluses
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following BEST describes a market system?
The government provides services, such as telephones and television.
A person can start any legal business and charge any price.
The government provides food and housing to all workers.
Businesses are owned by the government.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
This is an economic system where people follow the occupation of their ancestors:
Command
Market
Mixed
Traditional
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