Types of Economies

Types of Economies

6th - 8th Grade

13 Qs

quiz-placeholder

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Types of Economies

Types of Economies

Assessment

Quiz

Social Studies

6th - 8th Grade

Practice Problem

Hard

Created by

Joel Webb

Used 12+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Synonyms for this type of economy include capitalism and free enterprise

Command

Mixed

Market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

North Korea and Cuba have this type of economy

Traditional

Mixed

Command

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The definition of resources is:

an economic philosophy that calls for property to be owned by society as a whole

to not have enough of something, or too little of something

anything that can be used to produce an economic good or service

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Subsistence living where people harvest their own food as farmers, fishermen, and hunters happens in this type of economy.

Market

Traditional

Command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What of economy has the most freedom for people to make their own decisions.

Market

Mixed

Traditional

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A political philosophy and economic system where all the property and wealth is collectively owned by the whole society (government).

Scarcity

Communism

Socialism

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

FILL IN THE BLANK: In a mixed economy people make most decisions but the ______________ has some control.

Government

Car Wash

Farmer

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