Unit 2.8 Exam

Unit 2.8 Exam

12th Grade

20 Qs

quiz-placeholder

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Unit 2.8 Exam

Unit 2.8 Exam

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

Michael White

Used 6+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following items is found in all economic systems:

Technology
Participants
Subsistence
Dollars

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The most common medium of exchange in modern economic systems is

barter.
capital.
credit.
money.

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

One of the reasons that a country needs an economic system is because it

is independent of other nations.
has limited wants and needs.
has a limited supply of resources.
has immigrants from several countries.

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following types of economic systems adopts the fewest new ideas and improvements:

Communist command
Socialist command
Market
Traditional

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In a __________ economy, the government controls the economic system and does not allow private ownership of the means of production and distribution.

traditional
market
socialist command
communist command

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Government owns some basic means of production, but there is private ownership of business under

communism.
capitalism.
socialism.
entrepreneurship.

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In a __________ economy, individuals and businesses own the means of production and distribution with limited government regulation.

market
traditional
socialist command
communist command

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