Economic Systems Quiz

Economic Systems Quiz

12th Grade

20 Qs

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Economic Systems Quiz

Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

William Cowan

Used 13+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

________ is the most basic or fundamental economic problem.

Scarcity
Labor
Greed
Capital

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What are the 3 economic questions?

What to produce? How To Produce? For whom to produce?

What to produce? Why to produce? Where to produce?

How To Produce? Why to produce? Where to produce?

For whom to produce? Why to produce? Where to produce?

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The four types of economic systems are: 

Traditional, Command, Mixed, & Market
Traditional, Command, Combined, & Market
Communism, Capitalism, Free Market, and Macroeconomics
Microeconomics, Macroeconomics, Individual, and Traditional.

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What type of economic system is based on customs and beliefs?

Market
Mixed
Traditional
command

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

An economic system based on equity and in which the government decides what gets made and sets prices is called a

market economy
traditional economy
political economy
command economy

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The government has little to no role in the production of goods in this type of economy. 

Traditional 
Mixed
Command 
Market

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which economy is dictated by supply and demand and the buyers and sellers (consumers and producers)?

Market

Socilaism

Mixed

Command

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