Search Header Logo

Topic 2 Review

Authored by Matthew Klawitter

others

12th Grade

Used 6+ times

Topic 2 Review
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three key economic questions every society must answer?

Supply, demand, or pricing?
Labor, capital, or production?
what to buying, selling, and invest?
What to produce, how to produce, Who consumes it?

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free market economy, who determines what goods and services are produced?

The government
Private buisnesses and consumers
Central planners
Foreign investors?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system is most associated with government control of all industries?

Free market economy
mixed economy
Centrally planned economy
Traditional economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business has to decide whether to use machines or human labor to make its products. Which key economic question is this related to?

What to produce
How to produce
Who consumes it
Who controls production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best explains the economic problem of scarcity?

Governments do not distribute resources fairly
The economy does not produce enough goods
There are unlimited wants but limited resources
People have too many choices in the market

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following factors does NOT affect how goods and services are produced?

The personal preference of consumers
Avaiability of technology
Government regulations
The cost of labor and resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a centrally planned economy, who answers the three key economic questions?

Buisness owners
The government
Consumers
The stock market

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?