Economic Systems Quiz

Economic Systems Quiz

12th Grade

25 Qs

quiz-placeholder

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Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Littleton Scott

Used 4+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is a fundamental questions every society must answer?

What goods and services are to be produced?

How are the goods and services to be produced?

For whom are the goods being produced

All of the above

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The four types of economic systems are: 

Traditional, Command, Mixed, & Market
Traditional, Command, Combined, & Market
Communism, Capitalism, Free Market, and Macroeconomics
Microeconomics, Macroeconomics, Individual, and Traditional.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of economic system would have the least amount of government regulation?

Traditional

Command

Market

Socialist

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The United States economy is one in which producers are generally free to produce what they want, and consumers are free to purchase what they desire, so long as no laws are broken. 

Market Economy
Command Economy
Liberated Economy
Mixed Market Economy

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An economic system based on equity and in which the government decides what gets made and sets prices is called a

market economy
traditional economy
political economy
command economy

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What type of economy do most countries in the world have?

Communist economy
Command economy
Traditional economy
Mixed economy

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

Traditional 
Market 
Command 
Centrally Planned 

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