Economic Systems

Economic Systems

6th - 10th Grade

15 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Social Studies

6th - 10th Grade

Hard

Created by

Meredith Westerterp

Used 4+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT an essential question of economics?

What to produce

How to produce it

Where to sell it

Who gets it

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy is based on customs and how things have always been done?

Traditional

Free Market

Communist

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This economic system does NOT encourage new ideas and change happens very slowly

Mixed

Socialist

Traditional

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This economic system has little government interference and is based upon the relationship between producer and consumer

Communist

Free Market

Socialist

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are economic systems considered to be a sliding scale?

They change every 10 years

Its not a scale it is fixed

No country is truly just one economic system, they are a combination of two usually

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a Free Market economy prices are determined by

Supply and Demand

Supply and Recall

Demand and Purpose

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In this economic system the government controls everything. Deciding what to produce, how to produce it, and who gets it.

Socialist

Traditional

Communist

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