Economic Systems Quiz

Economic Systems Quiz

5th Grade

15 Qs

quiz-placeholder

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Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Easy

Created by

Jason Habisch

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does an economic system determine?

How to create new resources

What to produce, how to produce, and for whom to produce

How to eliminate scarcity

How to increase population

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do mixed economic systems matter?

They provide less freedom

They create more scarcity

They provide more economic and political freedom

They reduce wealth

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the significance of economic systems in society?

They eliminate scarcity

They determine resource allocation

They increase natural resources

They reduce economic freedom

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of Animated Economics as mentioned?

To provide historical data

To offer interactive lessons on graphs and tables

To teach cooking recipes

To explore ancient civilizations

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economic system?

A way a society uses resources to satisfy people's wants

A method of producing goods only for export

A system where only the government makes decisions

A way to create unlimited resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What takes precedence over individual desires in a traditional economy?

The good of the group

Personal wealth

Technological innovation

International relations

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which countries are examples of command economies?

North Korea and Cuba

United States and Canada

France and Germany

Japan and South Korea

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