
Econ Unit 3 Test
Quiz
•
Social Studies
•
10th Grade
•
Practice Problem
•
Medium
Kendall Giles
Used 134+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another term for a Free Market System?
Socialism
Communism
Capitalism
Democratism
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a free market system?
A type of economy where the government sets prices.
A type of economy where the people and competition sets prices.
A type of economy with a lot of rules and regulations that are set to drive the economy.
A type of economy where many items are free to consumers.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who makes the decisions in a free market system?
The Government
The Entrepreneurs
The Consumers
All members of the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not one of the five pillars of capitalism?
Government Influence
Private Property
Profit Driven
Free Competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much involvement does the government have in a free market system?
They have full control
They have the majority control
They have limited control
They have no control
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does interdependence mean
Countries depend on other countries for imports only
Countries depend on imports and exports from/ to other countries
Countries depend on other countries for exports only
Countries depend on other countries to help set prices and establish their economies
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between imports and exports?
There is no difference
Exports come in the the country and Imports go out
Imports come in the the country and Exports go out
Exports are goods bought and Imports are goods sold
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