Chapter 2 Economic Systems

Quiz
•
Social Studies
•
12th Grade
•
Medium

Chance Cotton
Used 7+ times
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35 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The United States economy is a mixed economy
based on a free market, but allowing some government intervention.
based on a traditional economy, but allowing some government intervention
based on a centrally planned economy, but limiting government intervention.
based on a free market, allowing no governmental intervention.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which U.S. economic and social goal is missing from other diagram above?
economic interdependence
economic growth
minimum wage
No answer text provided.
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The ways in which factors of production are combined determines the answer to all of these economic questions, except which one?
What will be produced?
How can we provide a safety net?
How will goods and services be produced?
Who will consume the goods?
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What does a circular flow of a market economy show?
how households and firms exchange money, resources and products.
how households choose the goods and services they buy.
how households and firms need the same resources at the same time.
how firms control employee wages and salaries.
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a positive externality of a new high school?
more traffic on the roads.
student purchases at nearby stores
a rise in property taxes
more noise in the neighborhood
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The economic value of economic freedom primarily concerns which of the following?
Reducing waste
Choice in the economy
A safety net
Fairness for everyone
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Protection from layoffs, illnesses, injuries, or disabilities falls under the goal of
Economic equity
Economic efficiency
Economic growth
Economic security
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