Identify the Economic System Quiz

Identify the Economic System Quiz

Professional Development

15 Qs

quiz-placeholder

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Identify the Economic System Quiz

Identify the Economic System Quiz

Assessment

Quiz

Financial Education

Professional Development

Medium

Created by

Melani Rose Lippard

Used 2+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a small village, people rely on customs and traditions to make economic decisions. They barter goods and services without using money. What type of economic system is this?

Market

Command

Mixed

Traditional

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A country has a central authority that makes all economic decisions, including what goods should be produced, how much should be produced, and the price at which goods are sold. Which economic system does this describe?

Market

Command

Mixed

Traditional

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a nation, businesses operate freely with minimal government intervention, and prices are determined by supply and demand. What economic system is being described?

Traditional

Command

Market

Mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A country has a system where both private enterprise and government intervention coexist. The government regulates certain industries while others are left to the free market. What type of economic system is this?

Traditional

Command

Market

Mixed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a rural community, economic roles are passed down from generation to generation, and people produce only what they need to survive. Which economic system does this scenario illustrate?

Market

Command

Mixed

Traditional

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A government decides to nationalize major industries such as oil and gas, while allowing small businesses to operate independently. What economic system is this?

Traditional

Command

Mixed

Market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a city, the government sets the prices for essential goods and services, but luxury items are priced based on market demand. What type of economic system is this?

Traditional

Command

Mixed

Market

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