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Exit Pass Factors of Production and Economic Systems

Authored by Brian Feltus

Financial Education

9th - 12th Grade

Exit Pass Factors of Production and Economic Systems
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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system in which decisions are based on a society's customs and survival.

Traditional Economy

Market Economy

Command Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system in which decisions are made by individuals in voluntary exchange.

Traditional Economy

Market Economy

Command Economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system in which decisions are made by government.

Traditional Economy

Market Economy

Command Economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a factor of production?

Land

Labor

Capital

Money

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who takes the risk of owning and operating a business would be an example of which factor of production?

Land

Labor

Capital

Entrepreneurship

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