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Economic Systems Quiz

Authored by Nesren Badr

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7th Grade

Economic Systems Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economic system?

A way to make money

The distribution of natural resources

A country's method of managing production, distribution, and consumption

A type of government

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the three basic questions economic systems address?

What to produce?

How to produce?

For whom to produce?

When to produce?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a traditional economy, how do people typically acquire goods?

Through online shopping

By producing their own goods and bartering

From government distribution centers

At large supermarkets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system is most affected by natural disasters?

Market economy

Command economy

Mixed economy

Traditional economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a market economy?

Government control of all production

Reliance on customs and beliefs

Freedom of individual choice in products and services

Limited trade with other regions

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, who decides what goods to produce?

Consumers

Private businesses

The government

International organizations

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country is known for having a free market economy?

Cuba

China

New Zealand

Russia

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