
Types of Economic Systems
Authored by Stephen Casparian
Social Studies
7th Grade
Used 12+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a traditional economic system?
A traditional economic system is a system where economic decisions are based on government regulations.
A traditional economic system is a system where economic decisions are based on customs, traditions, and beliefs.
A traditional economic system is a system where economic decisions are based on market forces.
A traditional economic system is a system where economic decisions are based on technological advancements.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a command economic system?
An economic system in which the government has no control over the allocation of resources and the production of goods and services.
An economic system in which the government has partial control over the allocation of resources and the production of goods and services.
An economic system in which the government has full control over the allocation of resources and the production of goods and services.
An economic system in which individuals have full control over the allocation of resources and the production of goods and services.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a market economic system?
An economic system where decisions regarding investment, production, and distribution are based on the interactions of supply and demand in the market.
An economic system where decisions regarding investment, production, and distribution are made by the government.
An economic system where decisions regarding investment, production, and distribution are determined by a central planning authority.
An economic system where decisions regarding investment, production, and distribution are based on random chance.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a mixed economic system?
A mixed economic system is an economic system that combines elements of both capitalism and socialism.
A mixed economic system is an economic system that combines elements of both communism and socialism.
A mixed economic system is an economic system that combines elements of both feudalism and capitalism.
A mixed economic system is an economic system that combines elements of both socialism and communism.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system is based on customs, traditions, and beliefs?
traditional economy
mixed economy
market economy
command economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system is controlled by a central authority?
capitalist economy
mixed economy
market economy
command economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system allows individuals and businesses to make their own decisions?
command economy
mixed economy
planned economy
market economy
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