
Economics test review
Authored by Antonius James
Business
6th - 8th Grade
Used 9+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is true about the free enterprise/market economy?
There is competition.
People control and own businesses and private property.
People are motivated by profit.
All of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity or amount of a good or service that are available.
demand
supply
wage
interest
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To trade not using money.
switch
swap
barter
profit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the supply is greater than the demand of a good, the price ______________.
goes up
goes down
stays the same
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The relationship between the amount of goods that exist and the amount that people are willing to buy
Taxes
Free Market Economy
Economy
Supply and Demand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People own their own goods and property; producers are free to decide what goods and services to make and what prices to charge.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Government rulers tell members of society how the much to produce and the price.
Command Economy
Free Market Economy
Traditional Economy
The Chicken Economy
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