Economic Systems

Economic Systems

12th Grade

•

26 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

•

Social Studies

•

12th Grade

•

Easy

Created by

Virna Hernandez

Used 1+ times

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26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Ted is working towards his dream of becoming a lawyer by working at a law firm as a legal clerk.

Free Market
Traditional
Command

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What type of economy do most countries in the world have?

Market economy
Command economy
Traditional economy
Mixed economy

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? 

What goods and services will be produced?
What is the price of the goods? 
Who is responsible for producing goods and services?
How will goods and services be distributed to customers?

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is an economic system where only the government makes the economic decisions?

traditional economy

free enterprise

mixed economy

command economy

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

The government has little to no role in the production of goods in this type of economy.

Traditional

Mixed

Command

Market

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Businesses have freedom to produce whatever they think consumers will buy

Market

Command

Mixed

Traditional

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system is the protection of private property rights essential?

Command

Traditional

Market

Socialism

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