The U.S. Economy Part I

The U.S. Economy Part I

8th Grade

25 Qs

quiz-placeholder

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The U.S. Economy Part I

The U.S. Economy Part I

Assessment

Quiz

Social Studies

8th Grade

Practice Problem

Hard

Created by

Charles Jr.

Used 88+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States is a __________ economy.

Command

Mixed

Traditional

Free Market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This exists when a buyer and seller exchange goods and services.

a government

consumer sovereignty

a market

demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Markets are generally allowed to operate without undue interference from the government.

Free enterprise

demand

supply

consumer sovereignty

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This consists of earnings after all expenses have been paid.

suypply

demand

market

profit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is rivalry between producers and/or between sellers of a good or service that results in better quality goods and services at lower prices.

consumer sovereignty

profit

demand

competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All are characteristics of the U.S. economy EXCEPT:

Profit motive

Competition

Consumer sovereignty

Private property

Government ownership of property and resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buyers determine what products will be made through purchases they make.

profit

consumer sovereignty

Private property

supply

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