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Economic Systems

Economic Systems

Assessment

Presentation

Social Studies

6th Grade

Practice Problem

Medium

Created by

Adam Nichols

Used 23+ times

FREE Resource

12 Slides • 20 Questions

1

Economic Systems

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Open Ended

List all the materials and steps that would be necessary to produce a T-shirt.

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14

Multiple Choice

What are two types of products in any economy?

1

computers & automobiles

2

goods & services

3

farming & technology

4

businesses & technology

15

Multiple Choice

In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.

1

Mixed

2

Market

3

Traditional

4

Command

16

Multiple Choice

People or businesses that create goods or services are known as

1

Producers

2

Consumers

3

Entrepreneur

4

Economists

17

Multiple Choice

People or businesses that buy or use goods or services are known as

1

Producers

2

Consumers

3

Entrepreneur

4

Economists

18

Multiple Choice

Who or what answers the basic economic questions in a mixed economy?
1
Individuals and Businesses
2
Government
3
Custom
4
Individuals, Businesses, and Government

19

Multiple Choice

Who or what answers the basic economic questions in a traditional economy?
1
Individuals and Businesses
2
Government
3
Custom
4
Individuals, Businesses, and Government

20

Multiple Choice

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? 
1
What goods and services will be produced?
2
What is the price of the goods? 
3
Who is responsible for producing goods and services?
4
How will goods and services be distributed to customers?

21

Multiple Choice

Most countries in the world have a ___________________ economy.
1
Traditional
2
Command
3
Mixed
4
Market

22

Multiple Choice

Both supply and demand and the government influence how resources are used to make goods and services.

1

Market Economy

2

Traditional Economy

3

Command Economy

4

Mixed Economy

23

Multiple Choice

People use the resources they have to make only what they need to survive.

1

Market Economy

2

Traditional Economy

3

Command Economy

4

Mixed Economy

24

Multiple Choice

Producers and consumers determine how to use resources and make goods based on supply and demand in the market, without government interference.

1

Market Economy

2

Traditional Economy

3

Command Economy

4

Mixed Economy

25

Multiple Choice

The government plans how to use resources to make goods and services.

1

Market Economy

2

Traditional Economy

3

Command Economy

4

Mixed Economy

26

Multiple Choice

A basic industry is something that humans need to fulfill their basic needs which of the following is not an example of a basic industry

1

Health Care

2

Fuel

3

Smart Phone

4

Housing

27

Multiple Choice

A nonbasic industry is something that humans want but don't need to fulfill their basic needs. Which of the following is not an example of a nonbasic industry or good

1

Television

2

Xbox

3

Smart Phone

4

Housing

28

Multiple Choice

the three basic economic systems are

1

market, mixed, and monarchy

2

market, mixed, and oilgarchy

3

command, market, and mixed

4

democracy, traditional, and mixed

29

Multiple Choice

Work done by producers for other people is called a

1

good

2

service

3

favor

4

doing someone a solid

30

Multiple Choice

A person who buys a good or uses a service is known as a

1

dictator

2

monarch

3

merchant

4

consumer

31

Multiple Choice

Products that are made to be sold are called _____________, Examples of them are cars, iphones, and clothing

1

Goods

2

Services

3

Money

4

Consumers

32

Multiple Choice

A system of producing, distributing, and consuming goods and services is known as a

1

Government

2

Constitution

3

Economy

4

Culture

Economic Systems

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