ECON: 1.08 Quiz

ECON: 1.08 Quiz

12th Grade

10 Qs

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ECON: 1.08 Quiz

ECON: 1.08 Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Jocelyn Cutean

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which kind of economic system does a socialist country have?


  • free-market

distributive

command

mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which kind of economic system does a capitalist country have?

command

free-market

mixed

planned

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which describes the system in a free-market economy?

run by the government

based on decisions by producers and consumers


  • uses command principles

designed to protect equity and security

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the circular-flow model, which do producers provide to consumers?

resources

wages

labor

capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the circular-flow model, which is something consumers do that influences producers?

purchase goods and services

provide wages and profits

produce goods and services

use land and capital

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the main goal of a socialist system?

guarantee free choice

provide equality

motivate innovation

maximize profit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is most important in a free-market system?

providing equality of wealth

making allocation decisions for the entire nation

protecting private property rights

providing security from poverty

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