Economic Systems in the World

Economic Systems in the World

9th - 12th Grade

10 Qs

quiz-placeholder

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Economic Systems in the World

Economic Systems in the World

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Aaron Rangoonwala

Used 123+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system is..

a way of organizing the production and consumption of goods and services.

a way to decided how money moves around in a nation.

buying and selling of goods.

food, clothing and shelter.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 3 fundamental questions of economics are

Who should produce, what to produce and when to produce?

Why to produce, What resources to use and Who to trade with?

What to produce, How to produce and who gets what?

Who gets land, how much to pay and when to pay?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your education is a type of what?

Land

Labor

Capital

Resource

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What decides the 3 questions in a traditional economy?

supply and demand

customs and traditions

the amount of livestock

equality

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which people group has a traditional economy?

Maasai

Swiss

French

Vietnamese

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who answers the 3 questions in a Market economy?

government

producers and consumers

customs and traditions

moral values

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of market economies?

growth

efficiency

instability

marketing

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