Economy Quiz

Quiz
•
Social Studies
•
6th Grade
•
Medium
Melvin Banks
Used 6+ times
FREE Resource
37 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Imagine that you are an immigrant to the United States from a communist country, and you have recently started your own business. In which type of economy is it more likely that you own your own business?
Free Enterprise Economy
Command Economy
Mixed Economy
Traditional Economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which type of economy does the government control businesses?
Free Enterprise Economy
Command Economy
Mixed Economy
Traditional Economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which type of economy does the government set the pricing of items?
Free Enterprise Economy
Command Economy
Mixed Economy
Traditional Economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why would entrepreneurs like Kenneth leave communist North Korea?
To seek better economic opportunities
To enjoy colder climates
To study marine biology
To join a sports team
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement provides the BEST evidence for the answer to Part A?
Entrepreneurs have more opportunities in North Korea than in the United States.
Entrepreneurs in the United States are able to thrive in any situation.
Entrepreneurs in the United States have opportunities to open businesses.
Entrepreneurs in the United States are able to thrive in any situation.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement correctly describes the business ownership rights in North Korea?
Individuals have limited rights to own private businesses.
Individuals are encouraged to start private businesses.
Individuals are not allowed to own or operate private businesses.
All individuals must own a business.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basis for determining market prices and production in a market economy?
Government regulations
Supply and demand
Random selection
Corporate decisions
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