
Economic Systems/Structures
Quiz
•
History
•
12th Grade
•
Medium
KD Rojas
Used 2+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which does not describe an economic system?
An Economic system is a system of games in a country.
An economic system describes how a country’s economy is organized.
An economic system helps decide the 3 basic economic questions.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would be an example of a Traditional economy?
Germany in the 1920s
Having the same job as your father and grandfather
Basing all decisions off of history book.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
(true or False) Most democratic countries fall into mixed economy category.
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In a command economy, who holds power over the economy?
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What are the 3 basic economic questions?
What to produce? How To Produce? For whom to produce?
Who to produce? Why you produce? Like to produce?
Why to produce? Tell who to produce? Things to produce?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This happens when one company controls all output and pricing of a good or a service without government intervention.
Oligopoly
Market Economy
Mixed Economy
Monopoly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the entire output of a market is produced by several sellers, the firm:
is an oligopoly
is a monopoly
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