Econ - Unit 2

Econ - Unit 2

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Paul Ragan

Used 2+ times

FREE Resource

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first of the 3 economic questions?

What goods/services will be produced?

How will the goods/services be produced?

Who will consume the goods/services?

Who will make the goods/services?

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

When are traditional economies successful?

When it involves a large extended family.

When everyone has as designated job.

When they meet their own needs.

When they get help from the gov't.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy utilizes specialization?

Traditional

Free Market

Centrally Planned

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

In a factor market, which way do the resources flow?

From the firms to the households.

From the households to the firms.

From the households to the consumers.

From the consumers to the firms.

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is one advantage of a centrally planned economy?

Encourages innovation.

Is successful when it meets its own needs.

Responds efficiently to changing conditions.

Can jump-start selected industries.

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

How what is the political system like in a socialist country?

Can be a range of political systems.

Purely democratic.

Run by an authoritarian gov't.

Run by an oligarchy.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What change did China go through in relation to their economic system?

Open Change

Economic Closure

Economic Transition

Economic Restructuring

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