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Econ Unit 2 Review

Authored by Nikolas Chernushin

Social Studies

9th - 12th Grade

Used 1+ times

Econ Unit 2 Review
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23 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What do all economies have in common?

Distribute resources the same way.

Distribute profits the same way.

All determine how to distribute resources

All ensure equality.

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Determines allocation and production through personal connections.

traditional economy

command economy

free market economy

communist economy

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Government determines allocation and production.

traditional economy

command economy

free market economy

communist economy

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Buyers and sellers determine allocation and production.

traditional economy

command economy

free market economy

communist economy

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which statement is true about communism?

Widespread private ownership.

There has never been a fully communist country.

American is a communist country.

Allocation is based on personal relationship.

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What type of economy is the United States?

free market economy

command economy

traditional economy

mixed economy

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following BEST describes GDP?

Total goods and services sold in a country.

Measure of inflation

Includes only those looking for work.

Is seen as a lagging economic indicator.

Taxes placed in imported goods.

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