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Economic Spectrum Quiz Review

Authored by Michael Colley

Social Studies, History

9th Grade

17 Questions

Used 162+ times

Economic Spectrum Quiz Review
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things we would like to have—things that improve our quality of life, such as entertainment and vacations.

Needs

Wants

Scarcity

Market Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Are things that are required for survival, such as food, clothing, and shelter.

Needs

Wants

Scarcity

Command Economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Having limited resources for unlimited wants and needs.

Needs

Wants

Scarcity

Mixed Economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The type of economy that the government or other central authority makes all economic decisions.

Traditional

Free Market

Mixed

Command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The type of economy that government guides and regulates production of goods and services, and resources are owned by individuals.

Traditional

Free Market

Mixed

Command

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The type of economy where tradition and custom govern economic decisions.

Traditional

Free Market

Mixed

Command

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The type of economy that economic decisions are made by individuals competing to earn profits based on supply and demand.

Traditional

Free Market

Mixed

Command

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