Introduction to Economics & Types of Economies

Introduction to Economics & Types of Economies

7th Grade

20 Qs

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Introduction to Economics & Types of Economies

Introduction to Economics & Types of Economies

Assessment

Quiz

Business

7th Grade

Practice Problem

Medium

Created by

Kaylei Scheible

Used 157+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy is also called a free enterprise system?

Command

Market

Traditional

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On organized way in which a nation chooses to use its resources to create goods/services.

Economic systems

Traditional economy

Command Economy

Mixed Economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One in which economic decisions are based on a society's values, cultures and customs.

Mixed Economy

Traditional Economy

Market Economy

Command Economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A science that examines how goods and services are produced, sold, and used.

Economy

Economics

Economic Resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

These are always limited. Individuals, businesses, and government must decide on how to use these.

Economic resources

Factors of Production

Market Forces

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

These are economic resources a nation uses to make goods and services for its population.

Economic Resources

Factors of Production

Market Forces

Economic Problem

7.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the four factors of production?

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