Search Header Logo

Market Economic System

Authored by Damyantee Mungul

Social Studies

10th Grade

Used 238+ times

Market Economic System
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is a benefit of the market system?

A Competition ensures choice for consumers.

B Prices equal supply costs

C Unemployment is kept to a minimum

D Wage differentials are small

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is an advantage of a market economy?

A an absence of poverty

B Consumer sovereignty

C Full employment

D firms have monopoly power

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In a market system, what encourages firms to keep their costs low?

A Competition

B Subsidies

C Taxation

D Rules and Regulations

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What encourages firms to produce what consumers demand?

A the desire to keep revenue low

B the chance to make high profit

C the chance to keep cost of production high

D the desire to attract firms in the industry

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Who decide what to produce, how to produce and for whom to produce?

A government

B producers

C consumers

D producers and consumers

6.

MULTIPLE SELECT QUESTION

3 mins • 1 pt

In a market economy, there is limited government intervention.

True

False

7.

MULTIPLE SELECT QUESTION

3 mins • 1 pt

A market economic system is one where resources are owned and controlled by private sector

False

True

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?