Economic Systems

Economic Systems

8th Grade

35 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Computers

8th Grade

Practice Problem

Medium

Created by

Jeff Langer

Used 82+ times

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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following items is found in all economic systems?

Technology

Participants

Subsistence

Dollars

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most common medium of exchange in modern economic systems is:

barter.

capital.

credit.

money.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One of the reasons that a country needs an economic system is because it:

is independent of other nations.

has limited wants and needs.

has a limited supply of resources.

has immigrants from several countries.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following types of economic systems adopts the fewest new ideas or improvements?

Command

Socialist Command

Market

Traditional

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The government controls the economic system and does not allow private ownership of the means of production and distribution in a __________ economy.

traditional

market

socialist command

communist command

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government owns the basic means of production, but there is some private ownership of businesses under:

communism.

capitalism.

socialism.

entrepreneurship.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individuals and businesses own the means of production and distribution with limited government regulation in a __________ economy.

market

traditional

socialist

communist

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