Economy in which people make economic decisions based on their customs and habits.

Civics Chapter 19 Review

Quiz
•
Social Studies
•
11th Grade - University
•
Medium
Thomas Schexnayder
Used 3+ times
FREE Resource
50 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Traditional economy
Market economy
Command economy
Mixed economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amount of a good or a service that is available for use?
Market
supply
incentive
revenue
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a market?
where productive resources are bought and sold
where producers offer goods and services
the willing exchange of goods and services between buyers and sellers
where consumers earn their income
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ______ between sellers keeps the cost of production low and quality of goods high.
profit motive
interdependence
exchange
competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of money left over after all the costs of production have been paid.
profit
profit motive
expenditures
cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics is the study of how we make decisions in a world of limited?
Needs
wants
choices
resources
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Person or business that buys or consumes products.
Producer
command economy
consumer
revenue
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