World History Test #3
Authored by Andy Chang
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Every economic system answers three questions: What is produced? For whom is it produced?
Why is it being produced?
Should it be produced at all?
How is it produced?
How easily can it be produced?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system is a society's system of production, distribution, and consumption of _______.
goods and services
natural resources
chili cheese fries
stocks and bonds
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who owns factors of production in a command economy?
private citizens
the government
religious institutions
none of the above
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which three below are characteristics of a market economy
Profit is the motivation
Supply and demand dictate price.
Businesses decide what and how much is made.
Competition between businesses is discouraged.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which country was communist, which led to a totalitarian rule?
Russia
United States
Italy
Israel
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If supply is low and demand is high, _________.
prices rise
prices drop
prices stay the same
competition disappears
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The United Nations was created after what war?
WWI
WWII
WWIII
Vietnam War
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