CP Economics Chapter 2: Economic Systems

CP Economics Chapter 2: Economic Systems

12th Grade

31 Qs

quiz-placeholder

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CP Economics Chapter 2: Economic Systems

CP Economics Chapter 2: Economic Systems

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Sean Duda

Used 1+ times

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31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a MARKET economy, individuals and businesses (firms) answer the three basic economic questions of What, How, and For Whom to produce.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States is an example of a TRADITIONAL economy.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The role of government in a COMMAND economy is to make major economic decisions.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Japan or the US are examples of COMMAND economies.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a TRADITIONAL economic system new ideas are welcome.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consumers usually determine WHAT WILL BE MADE in a market economy when they buy goods and, in a way, "vote" for a product.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Customs and traditions of the people tend to be the deciding factor in what to produce and how to produce it in a COMMAND economy.

True
False

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