Econ Systems

Econ Systems

9th Grade

10 Qs

quiz-placeholder

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Econ Systems

Econ Systems

Assessment

Quiz

Social Studies

9th Grade

Practice Problem

Hard

Created by

Scott Olson

Used 79+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The major types of economic systems are

command, market, and mixed.
traditional, market, and mixed.
traditional, command, and market.
communist, socialist, and capitalist

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a ____________ economy, a central authority makes most of the WHAT, HOW, and FOR WHOM decisions.

traditional
command
market
free market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a major characteristic of a pure market economic system?

lack of competition
freedom of enterprise
freedom of choice
little or no government control

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main drawback of the traditional economy is that it

has a great deal of uncertainty
fails to answer the WHAT, HOW, and for WHOM questions
tends to discourage new ideas and ways of doing things 
requires a large government bureaucracy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, producers of goods and services make decisions primarily based on

government planning.
past customs and production methods.
current profit potential.
marketplace signals.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Almost all economic systems today are

pure market economies.
mixed economies.
command economies.
traditional economies.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What forces people to make economic choices?

Need for shelter

Abundance of goods

Scarcity of resources

Desire for profit

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