Economic Systems Review
Authored by Charlotte Anderson
Social Studies
10th Grade
Used 5+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT one of the three basic questions of economics when looking at economic systems?
2.
MULTIPLE CHOICE QUESTION
1 min • 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
1 min • 1 pt
In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.
Mixed
Market
Traditional
Command
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is scarcity?
Unlimited wants and unlimited resources
Unlimited wants, but limited resources
An economic system
Large supply of needs and wants
5.
MULTIPLE SELECT QUESTION
1 min • 1 pt
What are the three economic systems?
Market
Traditional
Command
Democratic
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How would a free market economy be described?
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Oil, natural gas, and coal
human resources
natural resources
entrepreneurship
capital resources
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