Economics Chapter 1

Economics Chapter 1

12th Grade

25 Qs

quiz-placeholder

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Economics Chapter 1

Economics Chapter 1

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Michele Washburn

Used 2+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In this type of economy, the people decide the supply, demand, and price.  

Market 
Traditional
Command 
Mixed

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

This type of economy is passed down through family traditions. They learn from their parents. 

Traditional 
Market 
Mixed 
Command 

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which type of economy has central ownership, the government, and lack of individual choice?

Market

Mixed

Command

Traditional

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which type of economy is usually paired with a Communist government?

Mixed
Market
Command
Traditional

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Capitalism is in what type of economy?

Traditional

Command

Market

Authortarian

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The amount of money a business makes after its expenses are paid

profit

supply

demand

scarcity

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is a consumer?

a person who takes things

a person who purchases goods and services for personal use

a person who takes good away

the economic factors affecting the price, demand, and availability of a commodity

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