Economic Systems/Structures

Economic Systems/Structures

12th Grade

14 Qs

quiz-placeholder

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Economic Systems/Structures

Economic Systems/Structures

Assessment

Quiz

History

12th Grade

Medium

Created by

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?
The people
The government 
Beyonce
The traditions of your ancesetors 

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

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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