There are four different major economic systems. They are called:
Economics- SOL 11.b,c-

Quiz
•
English
•
8th Grade
•
Hard
Debbie Gibson
FREE Resource
25 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
1 min • 4 pts
Traditional Economy
Command Economy
Free Market Economy
Mixed Economy
2.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
In this particular economy economic decisions are based on custom or tradition. People tend to do the same work their parents did.
Mixed Economy
Traditional Economy
Free Market Economy
Command Economy
3.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
In this type of economy, you'll find private ownership of property and resources, profit, competition, consumer sovereignty and individual choice. It is called__________________.
Traditional Economy
Mixed Economy
Command Economy
Free Market Economy
4.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
In this type of economy, there is central (governmental) ownership of property and resources, a lack of consumer choice, and a centrally-planned economy. It is called ____________________.
Command Economy
Traditional Economy
Free Market Economy
Mixed Economy
5.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
What is the most common type of economic system?
Traditional Economy
Mixed Economy
Command Economy
Free Market Economy
6.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
In this type of economic system the government's role is LESS than in a free market economy, but more than in a command economy. It is called __________________.
Free Market Economy
Traditional Economy
Command Economy
Mixed Economy
7.
MULTIPLE CHOICE QUESTION
1 min • 4 pts
What kind of economy does the United States have?
Free Market Economy
Mixed Economy
Traditional Economy
Command Economy
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