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Economic Systems Quiz

Authored by Marletta Langston

Social Studies

7th Grade

Economic Systems Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three economic questions that every country must answer?

What to produce, How to produce, For whom to produce

When to produce, Where to produce, Why to produce

How to sell, Where to sell, Who to sell to

What to buy, How to buy, From whom to buy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do members of a traditional economy trade goods?

Using money

Through bartering

By credit cards

With digital currency

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a traditional economy, economic decisions are made based on what?

Government policies

Market trends

Cultural traditions and beliefs

Scientific research

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a command economic system answer the three economic questions?

Through individual choices

By government controls everything

By market demand

Through private businesses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Most democratic countries have elements of which two economic systems?

Traditional and Command

Command and Market

Market and Traditional

Socialist and Traditional

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system is found in South Africa, Nigeria, and Kenya?

Traditional

Command

Mixed

Market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role does South Africa's government play in its economy?

Controls all businesses

Limited role with few regulations like postal service and some oil and gas companies

No role at all

Controls only the agricultural sector

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