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Economics 1.2 Quiz

Authored by Jonathan Brown

Social Studies

10th Grade

DOK 1 covered

Used 105+ times

Economics 1.2 Quiz
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44 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Freedom of choice and competition are most commonly associated with which type of economic system?

Command (Centrally Planned)

Market

Traditional

Mixed

Tags

DOK 1

Economic Systems

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The government owns all the resources

and the government answers the three economic questions are two characterizations of what type of economy?

Command (Centrally Planned)

Free Market

Mixed Economy

Traditional

Tags

DOK 1

Economic Systems

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a common role of government in a mixed economy?

Guarantee that all incomes are equal

Prevent regulators from interfering with markets

Provide public goods

Set production quotas

Tags

DOK 1

Economic Systems

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select the three economic questions that must be answered to determine an economic system.

What goods and services should be produced?

How should these goods and services be produced?

Who consumes these goods and services?

Where are your goods and services produced?

Tags

DOK 1

Economic Systems

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The way in which a society answers the three basic economic questions determines its:

Market Structure

Political system

Marketing system

Economic system

Tags

DOK 1

Economic Systems

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Private ownership and voluntary exchange are characteristics of which type of economic system?

Command

Traditional

Market

Planned

Tags

DOK 1

Economic Systems

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term below is a command economy most commonly associated with?

Capitalism

Government regulation

Competition

Private property

Tags

DOK 1

Economic Systems

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