Economic Systems Quiz

Economic Systems Quiz

8th Grade

8 Qs

quiz-placeholder

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Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Social Studies

8th Grade

Practice Problem

Medium

Created by

R Jones

Used 4+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy is characterized by families being responsible for the production of goods and services they need?

Mixed

Market

Command

Traditional

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a Command economy, who makes all production decisions?

Business owners

Consumers

Political leaders

Labor unions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy is characterized by independent production decisions in a free marketplace?

Command

Mixed

Traditional

Market

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country is an example of a Market or Mixed economy?

United States

Canada

Cuba

North Korea

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main characteristic of a Mixed economy?

Decentralized production by families

Integration of best elements from other types of economies

Private ownership of factors of production

Government controls all factors of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy allows for state-owned elements as well as private ownership?

Command

Market

Mixed

Traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a feature of the Command economy?

Independent production decisions

Bartering and growing own food

Government-run social programs

Free enterprise

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What represents elements of the command economy in Canada?

Free enterprise in all areas

Government-run social programs

Private ownership of land

Decentralized production by families