Quiz 2

Quiz 2

12th Grade

17 Qs

quiz-placeholder

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Quiz 2

Quiz 2

Assessment

Quiz

Other

12th Grade

Easy

Created by

Sophie Li

Used 3+ times

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17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?

Market economy
Command economy
Traditional economy
Mixed economy

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an economic system where only the government makes the economic decisions? 

traditional economy
free enterprise 
mixed economy
command economy

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What type of economy do most countries in the world have?

Market economy
Command economy
Traditional economy
Mixed economy

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

Traditional 
Market 
Command 
Centrally Planned 

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are the 3 economic questions?

What to produce? How To Produce? For whom to produce?
Who to produce? Why you produce? Like to produce?
Why to produce? Tell who to produce? Things to produce?

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which economy is dictated by supply and demand and the buyers and sellers (consumers and producers)?

Market

Socilaism

Mixed

Command

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

WHAT ARE THE 4 FACTORS OF PRODUCTION?

Land, Capital, Need & Want

Land, Labor, Capital, Entrepreneurs

Water, Air, Food & Shelter

Land, Capital, Good & Service

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