Economic Game

Economic Game

12th Grade

10 Qs

quiz-placeholder

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Economic Game

Economic Game

Assessment

Quiz

Other

12th Grade

Hard

Created by

Marielsy Giron Garcia

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is primarity responsible for making economic decisions a market economy?

The central government

Big business

Market regulators

Individuals

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement best describes the difference between a market economy and a traditional economy?

in a market economy, decisions are based on custom

in a traditional economy, decisions are based on habit and custom

in a traditional economy, decisions are based solely on supply and demand

in a market economy, decisions are based on habit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three different Economic System?

Traditional Economic, Command Economic, Market Economic

Command Economic, Traditional Economic, Government

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by positive economy?

Positive economics refers to ethnical precepts and norms of justice.

Positive economics deals with subjective explanations of how the economy works

Positive economics deals with objective explanations about the functioning of the economy

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic model

It is a simplication of reality

It supposes the irrationality of individuals

It uses a large number of variables

All previous statements are correct

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Economics, due to its empirical nature, uses

The methods of induction and deduction

Controlled experiments

The idea that there is a perfect logical symmetry between the nature of explanations and predictions

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A good in the economic sense is one that:

It is inexhaustible

it is not necessary to carry out an economic activity

Satisfies a need

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