European Economics

European Economics

8th Grade

10 Qs

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Assessment

Quiz

Social Studies

8th Grade

Practice Problem

Medium

Created by

Alexandra Lussi

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A product of the earth ('gift of nature') that people use to meet their needs is a

Free enterprise

Good

Natural resource

Traditional economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number limit on how many items of a particular product can be imported from a particular country is the

Supply

Demand

Quota

Traditional economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic system of communist countries is most closely related to which of the following?

Mixed economy

Market economy

Command economy

Traditional economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the basic questions that all economic systems must answer?

How much to produce?

How to produce?

What to produce?

For whom to produce?

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market economy is very different from a command economic system or a traditional system. Which of the following is found in a market economy?

Competition between businesses

Government control of agriculture

Market

Service

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, economic decisions are made by the

Producers

Market

Government

Service

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of investment in human capital?

Education

Factories

Dollar

Euro

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