Economic Systems Quizizz

Economic Systems Quizizz

10th Grade

10 Qs

quiz-placeholder

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Economic Systems Quizizz

Economic Systems Quizizz

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Easy

Created by

Victor Vargas

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

How many economic questions should society be answering in regards to the organization of their economy? Mark only one oval.

5 questions

2 questions

3 questions

4 questions

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

In his book, Wealth of Nations, Adam Smith for what type of economy?

free enterprise system

traditional economy

authoritarian economy

socialist economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Who are the people who make and sell goods in a free enterprise system?

consumers

producers

technicians

representatives

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What law in the free enterprise system determines the prices of goods and services?

Law of Inertia

Law of Search and Seizure

Law of Motion

Law of Supply and Demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

If the demand of a product or service is high, what happens to the price of that product/service?

Price goes down

Price goes up

Price is stable

6.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the economic theory that the government should interfere as little as possible in the economy?

Supply and Demand

Market economy

Laissez-faire

Communism

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

The other alternative economic systems to capitalism rose as a result due to what?

desire for voting rights

inequalities created by the industrial revolution

fair civil rights

looking for private ownership

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