Economic Systems Review

Economic Systems Review

12th Grade - University

13 Qs

quiz-placeholder

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Economic Systems Review

Economic Systems Review

Assessment

Quiz

Social Studies

12th Grade - University

Medium

Created by

Karen Watt

Used 100+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Each society answers the three basic economic questions based on

Its unique combination of values and goals

the number of factor payments

its degree of economic growth

the desire to achieve economic freedom

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

A system to protect people experiencing unfavorable economic conditions

innovation

standard of living

safety net

profit

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The income people receive for supplying factors of production

profit

safety net

innovation

factor payments

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

An economic goal where a system makes the most of scarce resources using resources wisely and productively

Economic Freedom

Economic Equity

Economic Efficiency

Economic Growth

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the method used by a society to produce and distribute goods and services

economic system

standard of living

innovation

traditional economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

To improve its standard of living, a nation's economy must

remain stable

grow through innovation

achieve economic equity

allow the central government to make economic decisions

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the level of economic prosperity

standard of living

economic freedom

factor payments

profit

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