Economic Systems

Economic Systems

7th Grade

16 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

John Hogan

Used 5+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Also called a free market or market economy

Capitalism

Communism

Socialism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Regular people decide what will be produced, how much will be produced and the prices of goods

Capitalism

Communism

Socialism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competition between businesses attract customers

Capitalism

Communism

Socialism

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Rewards for better preformance

Capitalism

Communism

Socialism

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Influenced by laws of supply and demand

Capitalism

Communism

Socialism

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pure form of this economic system has government take no part in the economy

Capitalism

Communism

Socialism

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Also called a planned economy

Capitalism

Communism

Socialism

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