Economics- SOL 11.b,c-

Economics- SOL 11.b,c-

8th Grade

25 Qs

quiz-placeholder

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Economic Systems Quiz 1

Economic Systems Quiz 1

8th Grade

20 Qs

Economics- SOL 11.b,c-

Economics- SOL 11.b,c-

Assessment

Quiz

English

8th Grade

Hard

Created by

Debbie Gibson

FREE Resource

25 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

1 min • 4 pts

There are four different major economic systems. They are called:

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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