Market Vs. Command Economy

Market Vs. Command Economy

5th - 8th Grade

8 Qs

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Market Vs. Command Economy

Market Vs. Command Economy

Assessment

Quiz

Social Studies

5th - 8th Grade

Practice Problem

Medium

Created by

Clayton Young

Used 34+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Market Economy

System in which economic decisions are made by tradition and customes

System in which economic decisions are made by the government

System in which economic decisions are made by supply and demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Traditional Economy

economic decisions are made by tradition and customs

economic decisions are made by supply and demand

economic decisions are made by the government

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Command Economy

economic decisions are made by the government

economic decisions are made by supply and demand

economic decisions are made by tradition and customs

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Examples of Command Economy

China, North Korea, Russia

UK, US, Hong Kong

Brazil, Australia

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Examples of Market Economy

US, UK, Hong Kong

China, North Korea, Russia

Syria, Saudi Arabia

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Scarcity

a lot of something

not enough of something

to be afraid

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

economy

the flow of wealth, goods, and services in a country

not enough of something needed

type of government system

8.

MULTIPLE SELECT QUESTION

45 sec • 5 pts

Examples of Traditional Economy, more than one correct

Maasia cattle traders in Africa

US and Canada

Mexico and France

Eskimo fur traders in Alaska