Economic Systems Quiz

Economic Systems Quiz

6th Grade

10 Qs

quiz-placeholder

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Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Other

6th Grade

Hard

Created by

Bridget B

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a mixed economy?

A mixed economy is an economic system that combines elements of both communism and capitalism.

A mixed economy is an economic system that combines elements of both feudalism and socialism.

A mixed economy is an economic system that combines elements of both capitalism and socialism.

A mixed economy is an economic system that combines elements of both monarchy and socialism.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market economy, who determines the prices of goods and services?

Supply and demand

Consumers

Producers

Government

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main characteristic of a command economy?

Private ownership

Individual control

Government control

Free market

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system relies on customs, traditions, and cultural beliefs to make economic decisions?

traditional economy

mixed economy

market economy

command economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a mixed economy, who owns the means of production?

Workers and labor unions

Both private sector and government

Only government

Only private sector

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the government in a market economy?

The role of the government is to only provide public goods and services, and not regulate markets or enforce property rights.

The role of the government is to control all aspects of the economy and make all economic decisions.

The role of the government is to provide a legal framework, enforce property rights, regulate markets, and provide public goods and services.

The role of the government is to completely stay out of the economy and let the market operate freely without any intervention.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system is also known as a planned economy?

Free market economy

Command economy

Capitalist economy

Mixed economy

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