
Economics Quiz
Authored by Magdalena Willis
Social Studies
9th Grade
Used 6+ times

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34 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Economics primarily concerned with?
Study of historical financial systems
Study of political systems and government policies
Study of the production, distribution, and consumption of goods and services
Study of human behavior in isolation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics also involves the study of:
The choices people make to satisfy their wants and needs with an unlimited supply of resources
The interaction between different animal species in an ecosystem
The choices people make to satisfy their wants and needs with a limited supply of resources
The development of computer algorithms for efficient resource management
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another name for a Free Market economy?
Socialist Economy
Command Economy
Capitalist Economy
Mixed Economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is true about the Free Market economy?
It is always just and equitable.
It is controlled by public owners or the state.
It is highly efficient but not always just or equitable.
It does not allow voluntary trades in markets.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is considered a pro of a Free Market Economy?
Poor working conditions
Monopolies
More freedom for individuals
Little to no government interference
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another name for a Centrally Planned Economy?
Market Economy
Mixed Economy
Command Economy
Traditional Economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is in charge of deciding what is made and consumed in a Command Economy?
Private companies
Consumers
Government
Foreign investors
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