Things we would like to have—things that improve our quality of life, such as entertainment and vacations.
Economic Spectrum Quiz Review

Quiz
•
Social Studies, History
•
9th Grade
•
Medium
Michael Colley
Used 162+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Needs
Wants
Scarcity
Market Economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Are things that are required for survival, such as food, clothing, and shelter.
Needs
Wants
Scarcity
Command Economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Having limited resources for unlimited wants and needs.
Needs
Wants
Scarcity
Mixed Economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The type of economy that the government or other central authority makes all economic decisions.
Traditional
Free Market
Mixed
Command
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The type of economy that government guides and regulates production of goods and services, and resources are owned by individuals.
Traditional
Free Market
Mixed
Command
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The type of economy where tradition and custom govern economic decisions.
Traditional
Free Market
Mixed
Command
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The type of economy that economic decisions are made by individuals competing to earn profits based on supply and demand.
Traditional
Free Market
Mixed
Command
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