6/7 Grade Final: Economic Systems 2021-2022

________ is the study of how individuals and societies seek to satisfy needs and wants. (Objective 2.01)

• Economics

• Finances

• Marketing

• Telecommunication

The Eskimos that live in Alaska and others around the world , still live and practice traditions like their ancestors did 100s of years ago. This type of economy is called ____________________ (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command Economoy

• Mixed Economy

Men and women have specific roles that has not changed over the years. Which economic would still hunt for food and gather materials for shelter.(Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command Economoy

• Mixed Economy

The Chinese government controls what is produced and plans/manages for the country and people. Which economic would is controlled by the government. (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command Economy

• Mixed Economy

The advantage of this economy, is that the standard of living is the same for for everyone. All the people is China will get the same basic healthcare and education.

What type of economy is this? (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command Economoy

• Mixed Economy

Prices are set by supply and demand for goods and service in which economy? (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Market Economy

• Mixed Economy

An advantage, People/business work to create the best goods and services for customers to buy in which economy? (Objective 2.01)

• Traditional Economy

• Command

• Market Economy

• Mixed Economy

Prices are set by supply and demand for goods and service in which economy? (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command

• Mixed Economy

Which economic system gives people fewer choices to buy different products? (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command

• Mixed Economy

Which economic system has a government that takes care of the peoples needs AND allows business to take care of the peoples wants? (Objective 2.01)

• Traditional Economy

• Free Enterprise

• Command

• Mixed Economy