Economics Chapter 6 - 7
Quiz
•
Other, Social Studies
•
7th - 9th Grade
•
Hard
Theresia Lindha Widya Sari
Used 8+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which feature is a characteristic of a market economy?
Government planning plays a key role in the economy
Producers respond automatically to changes in consumers demand
Resources are allocated according to need
There is always full employment
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A country changes from a planned to a market economy. What effect will this have?
A decrease in government officials
A decrease in the role of the price mechanism
An increase in government ownership of resources
An increase in the output of public goods
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the role of the price mechanism in a market economy?
To allocate scarce resources
To increase the provision of merit goods
To make the distribution of goods and services more equal
To reduce the negative disadvantages of production and consumption
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is measured on the horizontal axis of a demand curve?
Cost
Price
Supply
Quantity
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What could cause the movement from point X to point Y?
A change in weather
A decrease in income
A rise in the price of chocolate
A special event is coming up
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which pair shows that the products are complementary goods?
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What product that the demand will decrease when the consumers' income rises?
Substitute goods
Complementary goods
Normal goods
Inferior goods
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