Economics Systems and Market Structures

Economics Systems and Market Structures

11th Grade

26 Qs

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Economics Systems and Market Structures

Economics Systems and Market Structures

Assessment

Quiz

Social Studies

11th Grade

Practice Problem

Medium

Created by

Karina Huber

Used 1+ times

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26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ________________________ economy is one where customs and traditions shape the goods and services produced.

Traditional

Market

Command

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a ________________________ economy, supply and demand determine the production of goods and services.

Traditional

Market

Command

Mixed

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ________________________ economy is centrally planned and controlled by the government.

Traditional

Market

Command

Mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________________ economies combine elements of both market and command economies.

Traditional

Market

Command

Mixed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system relies on customs, traditions, and beliefs passed down through generations to answer the basic economic questions?

Command economy

Traditional economy

Market economy

Mixed economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, who makes the major economic decisions?

Individual consumers

The central government

Business owners

Religious leaders

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the primary characteristic of a market economy?

A. Government control of resources

B. Private ownership of resources

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