Economics Quizizz Quiz Review

What is a characteristic of a market economy?

• markets

• private property

• competition

• all of the above

In my country, central planners decide when we should expand old factories and build new ones.

• Traditional

• Command

• Market

• Mixed

In my country my job is the same one that my family has done over the past 200 years.

• Traditional

• Command

• Market

• Mixed

In my country, the government controls the economy. It assigns jobs, sets production goals, and decides wages.

• Traditional

• Command

• Market

• Mixed

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.

• Traditional

• Command

• Market

• Mixed

A market economy is a system where businesses and _______________ decide what to buy and sell.

• local leaders

• government leaders

• consumers

• trade agreements

In a market economy, the system depends on _____________________.

• the government

• buyers and sellers

• buyers

• sellers

Which of the following is not a part of a free market system?

• demand

• monopolies

• trade barriers

• banks

What are capital resources?

• things from nature used to produce goods
• the machines, tools, and buildings used to produce goods
• the people used to produce goods

Oil, natural gas, and coal

• human resources

• natural resources

• entrepreneurship

• capital resources