ECON: Market Economy Quiz

ECON: Market Economy Quiz

12th Grade

10 Qs

quiz-placeholder

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ECON: Market Economy Quiz

ECON: Market Economy Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Janelle Anokye

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Who determines a country's economic decisions such as the cost of goods?

The government
The president

People and businesses

The military

2.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Which of the following is NOT a characteristic of a free-market economy?

Unlimited government control

Freedom of choice

Competition

Private property

3.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Which of the following is a DISADVANTAGE of a free-market economy?

Competition

Promotes entreprenuership

Freedom of choice

Monopolies

4.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Which of the following is an ADVANTAGE of a free-market economy?

  • Inferior goods and services

Efficient distribution of resources

Limited consumer choice

Unequal distribution of wealth

5.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Which of the following is a country with a market economy?

Singapore

Japan

United States

All of the above

6.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

TRUE or FALSE? The cost of a patient's treatment in a hospital is an economic decision

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

TRUE or FALSE? A producer's main goal is to make products sustainably

True

False

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