Social Studies Guru - Economics
Quiz
•
Other
•
6th - 8th Grade
•
Hard
Sandy Murray
Used 35+ times
FREE Resource
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of economy where products, prices, and services are determined by the market, not the government, is the...
Free Enterprise System
Integumentary System
Market System
Federal System
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The resources of an economic system (Factors of Production) are...
Traditional, command, market, and mixed
Land, capital, labor, and entrepreneurs
Monopoly, oligopoly, private, and government
Local, central, national, and global
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Factors of production that are used in the production of goods and services...
Resources
Price
Costs
Goods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the name for a tax paid for the manufacture or sale of certain goods and services?
Excise tax
Permanent tax
Tariff
Government tax
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of tax is imposed on products like gasoline, alcohol, and cigarettes?
Excise tax
Luxury tax
Sales tax
Severance tax
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is a type of resource?
Land
Capital
Enterprise
All of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The economic system that emphasizes freedom of choice, individual incentive and opportunity for making profit is...
Socialism
Capitalism
Communism
Mixed
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