PRACTICE TEST ME Econ

PRACTICE TEST ME Econ

7th Grade

30 Qs

quiz-placeholder

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PRACTICE TEST ME Econ

PRACTICE TEST ME Econ

Assessment

Quiz

History

7th Grade

Practice Problem

Easy

Created by

Jean Pappas

Used 338+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What are the 3 basic economic questions that all economic systems must answer?

What to produce, how to produce it, and for whom to produce the goods
When to produce, why to produce, and how long to produce
To what extent to produce, how much to produce, why to produce
What to produce, why to produce, and how much to produce

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Under which economic system does the government make almost all of the economic decisions?

Command (Public)
Market (Private)
Traditional (Custom)
Capitalist (Laws of Supply and Demand)

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The economies of Israel, Saudi Arabia and Turkey could be best described as

Traditional

Pure Market

Mixed Command

Mixed Market

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which describes how MOST countries around the world answer basic economic questions?

Most countries are pure command economies
Most countries are pure market economies
A mixture of command and market economies
A mixture of traditional and market economies

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

In a market economy, who makes the economic decisions?

subsistence farmers (grow just enough to feed family)
custom and habit (do what ancestors did)
government planners (public control)
people (productions based on supply and demand)

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which industry does Saudi Arabia's government specialize in?

Oil
technology
agriculture
textile manufacturing

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Where are most of the countries of OPEC located?

Africa
South America
North America
Southwest Asia

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