The inability to produce everything people need and want.
(Word Bank: scarcity--abundant--decrease)
Economic Systems
Quiz
•
Social Studies
•
6th Grade
•
Medium
Tiffany McCloud
Used 4+ times
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10 questions
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1.
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1 min • 10 pts
The inability to produce everything people need and want.
(Word Bank: scarcity--abundant--decrease)
2.
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1 min • 10 pts
The three economic questions every country must answer are:
1. What to produce?
2. How to produce?
3.
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1 min • 10 pts
What economic system answers the economic questions based on traditional customs and values passed down from generation to generation? (Word Bank: Supermarket economy---Market economy---Traditional economy)
4.
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1 min • 10 pts
What economic system answers the economic questions based on supply and demand in the market?
(Word Bank: Command economy---Market economy---Fixed economy)
5.
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1 min • 10 pts
What economic system answers the economic questions through strict governmental control?
(Word Bank: Mixed economy---Traditional economy---Command economy)
6.
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1 min • 10 pts
A 0%-100% scale which ranks world economies from most command-leaning (0%) to most market-leaning(100%) is an...
(Word Bank: Economic market---Economic continuum---Economic chart)
7.
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1 min • 10 pts
A blending of two different economic systems is called
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