Economic Systems and Private Enterprise

Economic Systems and Private Enterprise

8th Grade

18 Qs

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Economic Systems and Private Enterprise

Economic Systems and Private Enterprise

Assessment

Quiz

Business

8th Grade

Medium

Created by

Katie Showalter

Used 13+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The exclusive possession or control of the supply of or trade in a commodity or service.

MONOPOLY

FULL CONTROL

UNETHICAL BUSINESS

COMMAND ECONOMY

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system in which people do things the way they have always done them (according to habit, custom, or religious belief).

TRADITIONAL SYSTEM

MIXED SYSTEM

MARKET SYSTEM

PLANNED ECONOMY

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system that is made up of parts of several other economic systems.

TRADITIONAL SYSTEM

MIXED SYSTEM

MARKET SYSTEM

PLANNED ECONOMY

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system that is made up of parts of several A market economy is an economy based on the division of labor in which the prices of goods and services are determined in a free price system set by supply and demand.

TRADITIONAL SYSTEM

MIXED SYSTEM

MARKET SYSTEM

PLANNED ECONOMY

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(also known as Centrally-Planned Economy or Command Economy) - An economic system in which the government controls and regulates production, distribution, prices, etc. planned economy

TRADITIONAL SYSTEM

MIXED SYSTEM

MARKET SYSTEM

PLANNED ECONOMY

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

CHECK ALL THAT APPLY: An economic system heavily influenced by habits, customs, and religious beliefs

TRADITIONAL SYSTEM

MIXED SYSTEM

MARKET SYSTEM

PLANNED ECONOMY

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

CHECK ALL THAT APPLY: Government directly influences and vastly controls business practices due to ownership of natural and capital resources

TRADITIONAL SYSTEM

MIXED SYSTEM

MARKET SYSTEM

PLANNED ECONOMY

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