Economic Systems

Economic Systems

12th Grade

20 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Kevin Morales

Used 10+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which economic system is based on customs and beliefs, people will do the same work as their parents, and the exchange of goods is through bartering (no money)?

Traditional

Command

Market

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which economic system does the government make all economic decisions and owns most of the property - it is sometimes called communism?

Traditional

Command

Market

Mixed

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which economic system are all resources privately owned and the buyers and sellers answer the three economic questions?

Traditional

Command

Market

Mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which economic system is both market and command combined and most democratic countries fall into this category?

Traditional

Command

Market

Mixed

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which type of economic system is it when the government decides what to produce, the government decides how to produce, and the government decides who gets the goods produced?

Traditional

Command

Market

Mixed

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which type of economic system is it when the market decides what needs to be produced, private businesses decide how to produce, and consumers decide what they are willing to pay for goods?

Traditional

Command

Market

Mixed

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which type of economic systems does Cuba and North Korea have?

Traditional

Command

Market

Mixed

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