Economic Systems

Economic Systems

Assessment

Flashcard

History

5th Grade

Hard

Created by

Wayground Content

FREE Resource

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11 questions

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1.

FLASHCARD QUESTION

Front

A(n) ____ system is the way communities and governments organize resources, goods, and services.

Back

economic

2.

FLASHCARD QUESTION

Front

When the government controls economic activity, it is called a ____ economy.

Back

command

3.

FLASHCARD QUESTION

Front

A/An ______ is something that is offered to people to help them make a decision about goods and service's.

Back

economic incentive

4.

FLASHCARD QUESTION

Front

An example of a negative economic incentive is a ____

Back

fine

5.

FLASHCARD QUESTION

Front

The transportation of people in a country depends on bicycles. Two partners are told by the government to repair bicycles for a fixed price. This is an example of a _____

Back

command economy

6.

FLASHCARD QUESTION

Front

The price of goods and services is determined by: the owners and the market

Back

capitalism

7.

FLASHCARD QUESTION

Front

The price of goods and services is determined by: the government fixes the prices.

Back

command

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