Economic Systems Review

Economic Systems Review

12th Grade

•

50 Qs

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Assessment

Quiz

•

Social Studies

•

12th Grade

•

Easy

Created by

Donald Hubbard

Used 2+ times

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50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following economic systems allows citizens full freedom in choosing a career and workplace?

Capitalism

Fascism

Socialism

Communism

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Little to no freedom in selecting a career and workplace is a characteristic in which economic system?

Capitalism

Socialism

Fascism

Communism

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a market economy?

A combination of two economic systems

An economy where the government makes all decisions

An economy where customs and traditions make all decisions

An economy where individuals make all decisions

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a command economy?

An economy where individuals make all the decisions

An economy where customs and traditions make all decisions

A combination of two economic systems

An economy where the government makes all decisions

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a mixed economy?

An economy where individuals makes all decisions

An economy where the government makes all decisions

A combination of two economic systems

An economy where customs and traditions make all decisions

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The United States is an example of which economic system?

Market

Command

Mixed Market

Traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The former USSR (Soviet Union) featured which economic system that was the archenemy of the USA during the Cold War?

Command Economy

Market Economy

Traditional Economy

Mixed Economy

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