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Economic System Review

Authored by Katelyn Shoemaker

Social Studies

5th Grade

Used 5+ times

Economic System Review
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17 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the difference between a craftsperson and a specialist?

A craftsperson does all of the steps in production. A specialist does one step in production.

A craftsperson does one step in production. A specialist does all of the steps in production.

A craftsperson does mass production.

A specialist is like an artist.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When would it be ideal to have a craftsperson vs. a specalist?

When you are mass producing

When you are trying to break even

When you are making a work of art

When you want to make something quick

3.

OPEN ENDED QUESTION

45 sec • Ungraded

Name ANY way a business could improve production

(Think back to the Henry Ford/McDonalds videos)

Evaluate responses using AI:

OFF

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An economy that relies on an interdependent system of market prices to produce goods and services. Consumers and producers pursue their own self-interest.

Command Economy

Market Economy

Traditional Economy

Mixed System

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A system in which most economic issues of production and distribution are handled by the central planner.

Command Economy

Traditional Economy

Market Economy

Mixed Economy

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An economy in which customs and habits from the past are used to resolve issues of production and distribution.

Mixed Economy

Command Economy

Market Economy

Traditional Economy

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Custom or Tradition determines your job

Market economy

Traditional Economy

Command Economy

Mixed Economy

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