The U.S. Economy Part I
Quiz
•
Social Studies
•
8th Grade
•
Practice Problem
•
Hard
Charles Jr.
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The United States is a __________ economy.
Command
Mixed
Traditional
Free Market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This exists when a buyer and seller exchange goods and services.
a government
consumer sovereignty
a market
demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Markets are generally allowed to operate without undue interference from the government.
Free enterprise
demand
supply
consumer sovereignty
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This consists of earnings after all expenses have been paid.
suypply
demand
market
profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is rivalry between producers and/or between sellers of a good or service that results in better quality goods and services at lower prices.
consumer sovereignty
profit
demand
competition
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All are characteristics of the U.S. economy EXCEPT:
Profit motive
Competition
Consumer sovereignty
Private property
Government ownership of property and resources
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Buyers determine what products will be made through purchases they make.
profit
consumer sovereignty
Private property
supply
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