Economic Systems

Economic Systems

6th - 12th Grade

29 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Social Studies

6th - 12th Grade

Medium

Created by

Susan Thompson

Used 22+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The government plans how to use resources to make goods and services.

Market Economy

Traditional Economy

Command Economy

Mixed Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers and consumers determine how to use resources and make goods based on supply and demand in the market, without government interference.

Market Economy

Traditional Economy

Command Economy

Mixed Economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Both supply and demand and the government influence how resources are used to make goods and services.

Market Economy

Traditional Economy

Command Economy

Mixed Economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Market
Mixed
Traditional
command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The three types of economic systems are:

Traditional, Command, & Market

Traditional, Combined, & Market

Communism, Capitalism, and Macroeconomics

Microeconomics, Macroeconomics, and Traditional.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who comes up with a product or service, and finds the money and time to produce this new product.

Entrepreneur
Incentive
Specialization
Barter

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who or what answers the basic economic questions in a mixed economy?

Individuals and Businesses
Government
Custom
Individuals, Businesses, and Government

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