
Factors of Production and Economic Systems

Quiz
•
Education
•
11th Grade
•
Hard
Charlotte Anderson
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which economic system is the protection of private property rights essential?
Command
Traditional
Market
Socialism
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which economic system does the government answer all three of the big economic questions? (What to produce? How to produce? For whom to produce?)
Command
Socialism
Market
Traditional
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best explains a mixed economy?
Private ownership of the factors of production and regulation of businesses by government
Market exchanges answer all three of the big economic questions
Family customs and traditions determine what and how to produce a good
Government answers all three of the big economic questions
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.
Mixed
Market
Traditional
Command
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Traditional Economy based on?
Rules
Customs & Traditions
Supplies
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
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