Economic Systems
Quiz
•
History
•
12th Grade
•
Easy
Ricarriyah Rush
Used 3+ times
FREE Resource
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11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, who typically makes decisions about resource allocation?
Government authorities
Consumer and producers
Private businesses
Community councils
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What economy relies heavily on customs, traditions, and cultural norms to guide economic activities?
Command
Traditional
Mixed
Free Market
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A mixed economy combines elements of both:
Command and Traditional Economies
Traditional and Free Market Economies
Command and Free Market Economies
Traditional, Command, and Free Market Economies
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free market economy, prices of goods and services are primarily determined by:
Government regulations
Consumer demand and supply
Cultural traditions
Central planning
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economy allows private individuals and businesses to own and control the means of production?
Command economy
Traditional economy
Mixed economy
Free market economy
6.
MATCH QUESTION
1 min • 5 pts
Match the following.
Market Economy
Individuals and businesses make economic decisions.
Mixed Economy
Centralized planning and government control over resources.
Traditional Economy
Combination of private and government ownership/control.
Command Economy
Economic activities based on cultural customs and beliefs.
Free Market Economy
Supply and demand dictate resource allocation.
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
In a ______ economy, economic decisions are made by government authorities and resources are allocated centrally.
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