Economics of Command and Free Markets

Passage
•
English
•
5th Grade
•
Medium

Cynthia Love
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a Free Market Economy, who decides what to produce?
The government
Consumers
Companies
Foreign investors
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do consumers play in a Free Market Economy?
They set the prices.
They choose what to buy.
They produce goods.
They control the factories.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does competition affect a Free Market Economy?
It reduces the quality of goods.
It increases prices.
It is the struggle between producers for consumer money.
It eliminates consumer choice.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What drives the production of goods in a Free Market Economy?
Government regulations
Supply and demand
International trade
Environmental policies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main decision-making factor for companies in a Free Market Economy?
Government policies
Consumer preferences
International laws
Environmental concerns
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential outcome of competition in a Free Market Economy?
Higher prices
Less consumer choice
Improved product quality
Government control
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, who controls the products offered and the price of goods and services?
The government
The consumers
The store owners
The international market
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