Key terms Chapter 2: Economic Systems

Key terms Chapter 2: Economic Systems

9th - 12th Grade

12 Qs

quiz-placeholder

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Key terms Chapter 2: Economic Systems

Key terms Chapter 2: Economic Systems

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

(A) 23.A, 23

Standards-aligned

Used 2+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a ____, the three basic economic questions of what to produce, how to produce, and for whom to produce are answered in the same way they have been for generations.

voluntary exchange

traditional economy

command economy

mixed economy

Tags

(A) 23.A

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a ____, the government makes most economic decisions.

command economy

traditional economy

mixed economy

global economy

Tags

(A) 23.A

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Two systems in which government plays a strong role are communism and ____.

market economy

democracy

socialism

totalitarianism

Tags

(A) 23.A

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the transition between types of economic systems, the government may ____ industries, taking them out of private ownership.

nationalize

privatize

monopolize

incentivize

Tags

(A) 23.A

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A ____ economy rests on private ownership.

command

state

national

market

Tags

(A) 23.A

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The rights of individuals and groups to own business and resources is known as____.

private property rights

public property rights

bill of rights

civil rights

Tags

(A) 23.A

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A market economy depends on ____ to help produce the highest quality goods at the lowest price.

consumption

procrastination

competition

collusion

Tags

(A) 23.A

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