In a market economy, who answers the 3 economic questions?
Market Economy Quiz

Quiz
•
Social Studies
•
10th Grade
•
Medium
Patrick Creech
Used 169+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Buyers and sellers
The government
Traditions and customs
Your mom
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A(n) ____ is a method a society uses to answer the 3 economic questions.
Economic System
Market Structure
Type of Government
Planning Board
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
___ basically invented modern economics with his book The Wealth of Nations.
Adam Smith
Karl Marx
Frederich Engels
Gouverneur Morris
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that buyers and sellers willingly enter into economic transactions.
Voluntary Exchange
Rational Choice
Consumer Sovereignty
Free Enterprise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that individuals can be trusted to make decisions that best benefit themselves.
Voluntary Exchange
Rational Choice
Consumer Sovereignty
Free Enterprise
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that ultimately, decisions in a market economy will be based on what individuals buy.
Voluntary Exchange
Rational Choice
Consumer Sovereignty
Free Enterprise
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic model in which businesses operate free from government control.
Voluntary Exchange
Rational Choice
Consumer Sovereignty
Free Enterprise
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