When a business or a society determine the products and services they intend to sell, they have decided
Fundamental Questions of Economics

Quiz
•
Geography
•
4th - 7th Grade
•
Medium
Mary Deaver
Used 60+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What to produce
How to produce
For whom to produce
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business or society makes decisions about the ingredients, labor force, or processes used to produce a good or service they intend to sell, they have answered
what to produce
how to produce
for whom to produce
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business or society determines the groups of people they will distribute or market their product to, they have determined
what to produce
how to produce
for whom to produce
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What kind of economy allows private sector citizens to make most of the decisions about what, how, and for whom to produce goods and services?
traditional
market / capitalist
command / communist
mixed
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In what kind of economy does the government make most of the decisions about what, how, and for whom to produce goods and services?
traditional
market / capitalist
command / communist
mixed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In what kind of economy are decisions made based on old customs and beliefs about what, how, and for whom goods and services should be produced.
traditional
market / capitalism
command / communism
mixed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An entrepreneur decides to set up a factory that will make pencils. He has decided
what to produce
how to produce
for whom to produce
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