Economics Ch. 2

Economics Ch. 2

12th Grade

15 Qs

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Economics Ch. 2

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Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Amanda Todd

Used 7+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An organized way of providing for the wants and needs of a society

Economic System

Traditional Economy

Command Economy

Market Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

political and economic system in which the factors of production are owned and controlled collectively by the state

socialism

communism

monopoly

The robber barren state

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of a market economy?

Consumer satisfaction is low

It limits freedom for producers and consumers

It does not provide for everyone

It limits private property rights

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following societies is an example of a traditional economy

North Korea

Australian Aborigines

Germany

South Africa

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy was characteristic of the communist bloc countries of the former Soviet Union

a traditional economy

a command economy

a market economy

a free enterprise economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who would you most likely find participating in a market economy

a government official deciding how much corn to plant this season

a teenage girl deciding how to spend the extra money she earned working overtime

a hunter deciding what to hunt to feed his family

a worker deciding to leave his job early because the production quota has been met

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic goal that is based on the desire of people to make their own decisions

economic freedom

economic efficiency

economic stability

Demand

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