Economics: Types of Economies

Quiz
•
Social Studies
•
6th Grade
•
Medium
Edris Ryan
Used 740+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economic system does the United States have?
Market
Commend
Mixed
Traditional
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The tribe relied on hunting and farming for food. The boy knew he would be a farmer just like his Dad had been. What kind of economic system does this describe?
Market
Command
Traditional
Mixed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the former Soviet Union, consumers had to wait in long lines to buy everyday items like bread. They did not have many choices and the government controlled factories. In what type of economy did they live?
Market
Mixed
Traditional
Command
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, goods and services were privately owned businesses.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a Command Economy, the government provides and controls the goods and services.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Although there have been small market reforms in North Korea, the majority of legal economic activities are centrally controlled by the government. What type of economy does North Korea have
Market
Mixed
Traditional
Command
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In China, 40% of the economy is based in state-run industries while 60% is based on the private sectors where producers and consumers make production decisions. What type of economy does this reflect?
Mixed
Command
Traditional
Market
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