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Economic Systems

Authored by Kayle Gerchman

Social Studies

11th Grade

Used 8+ times

Economic Systems
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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system is the protection of private property rights essential?

Command

Traditional

Market

Socialism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system does the government answer all three of the big economic questions? (What to produce? How to produce? For whom to produce?)

Command

Socialism

Market

Traditional

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best explains a mixed economy?

Private ownership of the factors of production and regulation of businesses by government

Market exchanges answer all three of the big economic questions

Family customs and traditions determine what and how to produce a good

Government answers all three of the big economic questions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.

Mixed

Market

Traditional

Command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system are all resources privately owned and the buyers and sellers answer the three economic questions?

Traditional

Command

Market

Mixed

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economic systems does Cuba and North Korea have?

Traditional

Command

Market

Mixed

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system do some villages in Africa and South America have?

Traditional

Command

Market

Mixed

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