The Economic System

The Economic System

12th Grade

8 Qs

quiz-placeholder

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The Economic System

The Economic System

Assessment

Quiz

History

12th Grade

Practice Problem

Easy

Created by

Hesham Ibrahim

Used 57+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary characteristic of a command economy?

Private ownership of businesses

Governments control over economic decisions

Free market competition

Equal distribution of resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system allows individuals to make their own economic decisions based on personal interests?

Traditional economy

Command economy

Market economy

Mixed economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a traditional economy, how are economic decisions typically made?

By the government

Based on market demand

According to historical practices

Through democratic processes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic systems refer to the way in which a society organizes its ___________ of goods and services.

Production

Distribution

Consumption

All of the above

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following can be considered a type of the economic system?

Traditional economy

Command economy

Market economy

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which countries still primarily operate under a command economy?

United States and Canada

China and North Korea

Japan and Germany

Australia and India

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The Needs of economic systems can be ___________

food

water

shelter

All of the above

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following can be considered wants of the economic systems?

television

a cell phone

a car

All of the above