Economics Quiz Q1 (Retake 2021) ch1 and 2

Economics Quiz Q1 (Retake 2021) ch1 and 2

11th - 12th Grade

42 Qs

quiz-placeholder

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Economics Quiz Q1 (Retake 2021) ch1 and 2

Economics Quiz Q1 (Retake 2021) ch1 and 2

Assessment

Quiz

Other

11th - 12th Grade

Medium

Created by

Laila Effat

Used 5+ times

FREE Resource

42 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 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.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What are the 3 economic questions?
What to produce? How To Produce? For whom to produce?
Who to produce? Why you produce? Like to produce?
Why to produce? Tell who to produce? Things to produce?

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

Traditional

Command

Market

Mixed

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

Traditional

Command

Market

Mixed

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If the government makes me produce 70 T-Shirts, what economic system is this?
Mixed
Traditional
Command
Market

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? 
What goods and services will be produced?
What is the price of the goods? 
Who is responsible for producing goods and services?
How will goods and services be distributed to customers?

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

__________ : when people want or need more of something than there is.

Scarcity

Profit

Opportunity Cost

Tax

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