Chapter 2 Economics Test

Chapter 2 Economics Test

12th Grade

25 Qs

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Chapter 2 Economics Test

Chapter 2 Economics Test

Assessment

Quiz

Social Studies

12th Grade

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Created by

Sean Maddox

Used 2+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these statements describes a disadvantage of a traditional economy?

New ways of doing things are discouraged

Everyone knows his/her role

New way of doing things is encouraged

Difficult economic decisions are made by the state

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these economic systems have the LEAST in common?

Market economy and capitalism

command economy and socialism

command economy and capitalism

free enterprise economy and market economy

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these statements is descriptive of a market economy?

Most media is state owned and operated

the government determines what is produced and by whom

major economic decisions are made for individuals, not by them

major economic decisions are made by individuals, not for them

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In which of these systems is the government MOST likely to provide people with goods and services they could not otherwise afford

A market economy 

A socialist economy

A traditional economy

A free enterprise economy

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of these countries has an economy MOST similar to that of the former Soviet Union?

Sweden

Norway

South Korea

North Korea

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is a feature of a command economy that distinguishes it from a socialist economy?

All production is managed by the government 

All economic decisions are made by the free market

All economic decisions are based on custom and habit

Some degree of private ownership and activity is allowed

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following lists economic systems in order from LEAST to MOST flexible?

Command, Socialism, Free Market

Free market, Socialism, Command

Socialism, Command, Free Market

Free market, Command, Socialism

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