Econ Questions
Quiz
•
Social Studies
•
12th Grade
•
Hard
Sarah Wallace
FREE Resource
45 questions
Show all answers
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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