Which Economy is It?

Which Economy is It?

9th - 12th Grade

20 Qs

quiz-placeholder

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Which Economy is It?

Which Economy is It?

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Alia Khan

Used 10+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

An economy in which most of the economic decisions that are made are based on custom and on the habit of how such decisions were made in the past.

Market

Traditional

Planned/Command

2.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Government planning groups make the basic economic decisions such as which goods and services to produce, prices, and wage rates.

Traditional

Market

Planned/Command

3.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

An economy in which changes in prices guide what and how goods and services will be produced, distributed, and consumed.

Market

Traditional

Planned/Command

4.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

An economic system in which decisions are all made on the basis of customs, beliefs, religion, and habits.

Market

Planned/Command

Traditional

5.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Sometimes called Free Enterprise which allows for private ownership of businesses and property.

Traditional

Planned/Command

Market

6.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

The customs and habits of the past are used to decide what and how goods will be, distributed, and consumed. Within this system, each member of society knows in early life what her or his role will be because jobs are handed down from generation to generation.

Planned/Command

Market

Traditional

7.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

The government owns the means of production.

Planned/Command

Traditional

Market

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