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English

Authored by Someth Yorn

Business

1st - 5th Grade

Used 5+ times

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13 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Economics is the study the limited resources and how know to use those resources in order to produce and allocate goods-services to meet the unlimited demand of people.

Definition-1

Definition-2

Definition-3

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Economics is the social science concerned with how individuals, institutions and society make optimal (best) choices under conditions of scarcity.

Definition-1

Definition-2

Definition-3

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Economics is the study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided.

Definition-3

Definition-1

Definition-2

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

.............is a term normally used to describe economic systems that pertain in societies with extensive subsistence agriculture.

Traditional economy

Planned Economic System

Market economy

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

.............an economy in which decisions regarding investment, production and distribution are based on supply and demand and the prices of goods and services are determined in a free.rice system.

Market economy

command economy

Traditional economy

Mixed economy

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

.......................... is an economic system where a government body makes economic decisions regarding the production and distribution of goods.

Mixed market

Traditional economy

Market economy

Planned economy

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

.................. is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.

Command economy

Free-market economic system

Mixed economy

Traditional economy

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