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Economic System

Authored by Anne Ford

Social Studies

12th Grade

Used 2+ times

Economic System
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22 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Market economy

Mixed economy

Communism

Command economy

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Entrepreneurship

Economic Freedom

Perfect competition

Governmental regulation

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Competition and profit motive are important characteristics of a:

command economy

traditional economy

market economy

socialist economy

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Market
Mixed
Traditional
command

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The four types of economic systems are: 

Traditional, Command, Mixed, & Market
Traditional, Command, Combined, & Market
Communism, Capitalism, Free Market, and Macroeconomics
Microeconomics, Macroeconomics, Individual, and Traditional.

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

Traditional 
Market 
Command 
Mixed

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy. 

Traditional 
Command 
Market
Mixed

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