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

Economic Systems Quiz 2

Quiz
•
English
•
8th Grade
•
Easy
Amal Bissessar
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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