Economics Review

Economics Review

5th Grade

14 Qs

quiz-placeholder

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Economics Review

Economics Review

Assessment

Quiz

Social Studies

5th Grade

Medium

Created by

Tiffany Fitzpatrick

Used 7+ times

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14 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Two partners independently own a business that repairs bicycles. They are an example of what kind of economy?

capitalism

membership

command

traditional

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

An example of a negative economic incentive is a:

coupon

membership

a fine

monopoly

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A/An __________ is something that is offered to people to help them make a decision about goods and services.

economic system

market system

economic incentive

market incentive

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

When the government controls economic activity, it is called a _____ economy.

traditional

command

free market

capitalism

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Agriculture is the main factor in what economy?

free market

traditional

command

American System

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A/An __________ system is the way communities and governments organize resources, goods, and services.

government

ecological

economic

geologic

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Multiple producers wanting consumers to purchase their product creates __________ in the marketplace.

private property

price systems

specialization

competition

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