economic systems

economic systems

9th - 12th Grade

20 Qs

quiz-placeholder

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economic systems

economic systems

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Easy

Created by

Rachel Kelley

Used 12+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What groups make up the economy?

Firms and individuals

Producers and consumers

Government, firms, individuals

Buyers and sellers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the 3 main types of economies?

Market, mixed, command

Traditional, market, barter, and free trade

Mixed, traditional, and market

Command, barter, free trade

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who makes the economic decisions in a command economy?

Firms

Individuals

Firms and government

Government

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who makes the decisions in a market economy?

Government and firms

Government only

Firms and individuals

Only individuals

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who makes the decisions in a mixed economy?

Government only

Firms only

Firms and individuals

Firms, government and individuals

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the 2 parts of our definition of “the economy”?

Where trade happens

Where we interact with firms and the government

Where government makes regulations

Where we engage with goods and services

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What economic goals does a command system prioritize?

Equity

Full employment

Economic freedom

Sustainability

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