In which economic system does the government answer all three of the big economic questions? (What to produce? How to produce? For whom to produce?)
Economic Systems and Voluntary Trade

Quiz
•
Social Studies
•
7th Grade
•
Medium
Jennifer Mathis
Used 89+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Command
Socialism
Market
Traditional
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best explains a mixed economy?
Private ownership of the factors of production and regulation of businesses by government
Market exchanges answer all three of the big economic questions
Family customs and traditions determine what and how to produce a good
Government answers all three of the big economic questions
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.
Mixed
Market
Traditional
Command
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods and services a country produces and sells to other countries
imports
exports
demand
supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A tax on imports
tariff
import tax
supply
embargo
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods and services brought in from other countries
supply
exports
imports
tariff
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A limit to the number of imports that may enter a country
tariff
embargo
demand
quota
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