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Unit 1 Economics Review

Authored by Matthew Zeitchik

Other

9th - 12th Grade

25 Questions

Unit 1 Economics Review
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1.

REORDER QUESTION

45 sec • 1 pt

Place the Three Economic Questions in Order

For whom will it be Produced?

What will be Produced?

How will it be produced?

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these answers best classifies as Monopoly?

Little Competition in a market

A single firm controls the market or is dominant in a market.

A few firms are dominant and compete in a market.

Perfect Competition

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these answers best classifies as an Oligopoly?

No Competition

Perfect Competition in a market

A single firm controls the market or is dominant in a market.

A few firms are dominant and compete in a market.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of Economy is focused on culture and beliefs?

Market

Mixed

Traditional

Command

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of Economy is heavily controlled by the Government?

Traditional

Command

Market

Mixed

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which Economy is based on consumer WANTS?

Market

Mixed

Command

Traditional

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select ALL that Apply: Select Characteristics of a Mixed Economy.

Government Involvement

No Government involvement

Principles of supply and demand

Protects Private Property

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