Economic Systems Quiz

Economic Systems Quiz

12th Grade

97 Qs

quiz-placeholder

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Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Nikevia Davis

Used 3+ times

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97 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must societies address to answer the basic economic questions?

Abundance

Scarcity

Wealth distribution

Economic growth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many basic economic questions must societies answer?

Two

Three

Four

Five

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an Economic System?

A method to distribute wealth equally among people.

A process to eliminate scarcity in society.

The way a society uses its scarce resources to satisfy its people's unlimited wants.

A system to ensure economic growth and stability.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What shapes the economic system of a society?

The government's policies

The answer to the basic economic questions

The level of technological advancement

The cultural values of the society

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not on of the three main economic systems?

Command

Market

Traditional

Business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Traditional Economy based on?

Current market trends

Customs and beliefs handed down from generation to generation

Technological advancements

International trade agreements

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a Traditional Economy, what is the role of men often described as?

Teachers and scholars

Hunters and herders

Businessmen and traders

Politicians and leaders

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