Characteristics of Economic Systems
Authored by Lorenzo Davis
Business
8th Grade
Used 2+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The government has little to no role in the production of goods in this type of economy.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
There are four types of economic systems. Most economies are _____.
Traditional
Command
Market
Mixed
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Based on individual choice and voluntary trade
Market
Command
Traditional
Communism
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Encourages competition between businesses
Command
Market
Traditional
Communism
5.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Customs have been passed down through generations
Command
Market
Traditional
Native Americas
6.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Bartering (Trading) for goods replaces the need for currency (money)
Command
Market
Traditional
Currency
7.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Businesses are privately owned by the people
Command
Market
Traditional
Autocratic
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