Economics SG

Economics SG

7th Grade

37 Qs

quiz-placeholder

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Economics SG

Economics SG

Assessment

Quiz

Social Studies

7th Grade

Easy

Created by

Wil Maney

Used 1+ times

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37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy has central ownership, the government, and lack of individual choice?

Market

Mixed

Command

Traditional

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy is usually paired with a Communist government?

Mixed
Market
Command
Traditional

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Capitalism is in what type of economy?

Traditional

Command

Market

Authortarian

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money a business makes after its expenses are paid

profit

supply

demand

scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The development of a worldwide economy where resources flow fairly freely across borders.

Globalization

Economy

GDP

Economic Independence

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What do economists mean by the term "scarcity"?

Having too few or too little of resources

Having too many resources

Having just enough resources

Having the correct amount of resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which choice best describes the economic problem of scarcity in the world?

People have limited wants there is an unlimited amount of resources.

People have unlimited wants but there is a limited amount of resources

People have no wants so resources don't matter

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