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Econ Questions

Authored by Sarah Wallace

Social Studies

12th Grade

Econ Questions
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45 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of economy is best described with the phrase "this is the way things have always been done"?

Market

Mixed

Traditional

Command/Planned

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of economy is best described with the phrase "we do what we are told"?

Market

Mixed

Traditional

Command/Planned

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of economy is best described with the phrase "we make what we want"?

Market

Mixed

Traditional

Command/Planned

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of economy best describes the majority of economies in the world today?

Market

Mixed

Traditional

Command/Planned

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In reference to the circular flow model, what are the main buyers and sellers in the markets?

Governments ONLY

Businesses and Government

Individuals, Households, Businesses, and Governments

Individuals and Households

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a market economy, who is the main party responsible for making economic decisions?

The individual, through buying power

The government, through regulations

Big businesses, through marketing

Witches, through magic

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best defines a Mixed economy?

The government directs what shoulder be made after getting input from citizens

Some government regulations and rules but generally the consumer market makes most of the decisions

Technological innovations alone drive what should be made in the market

Traditions and customs of a tribe or community, but with technology mixed into how everything is actually produced

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