Economic Systems Quiz 2

Economic Systems Quiz 2

8th Grade

20 Qs

quiz-placeholder

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Economic Systems Quiz 2

Economic Systems Quiz 2

Assessment

Quiz

English

8th Grade

Easy

Created by

Amal Bissessar

Used 1+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free-market economy, ___________ determines the prices of goods and services.

Government regulation

Consumer demand

Supply and demand

International agreements

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A mixed economy combines elements of both ___________ and ___________ economic systems.

Command, Traditional

Free market, Command

Free market, Barter

Socialism, Communism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of a traditional economy?

Heavy government control

Barter and trade

Technological advancement

A high level of market competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a feature of a mixed economy?

Combination of public and private sectors

Complete absence of government regulation

Consumer choice

Government provides some essential services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A free-market economy allows businesses to operate with minimal government interference.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, private businesses have the most control over production and pricing.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

David lives in a country where the government sets production targets, determines prices, and owns most industries. What type of economy is this?

Free-market economy

Traditional economy

Command economy

Mixed economy

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