Economic Questions Quiz

Economic Questions Quiz

9th Grade

64 Qs

quiz-placeholder

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Economic Questions Quiz

Economic Questions Quiz

Assessment

Quiz

Life Skills

9th Grade

Practice Problem

Easy

Created by

Kathleen Moore

Used 3+ times

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64 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three main economic questions every society must answer?

Who to produce for, where to produce, and why to produce

What to produce, how to produce, and for whom to produce

When to produce, how much to produce, and where to produce

Why to produce, when to produce, and how much to produce

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What makes it harder for a country to produce everything it needs?

Abundance of resources

Scarcity or limited resources, materials, and labor

Efficient economic planning

Technological advancements

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economic system?

A method to ensure unlimited resources for production

A process of distributing goods and services equally among citizens

How a society or country answers economic questions and deals with scarcity

A fixed set of rules for financial transactions in a country

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a main type of economic system?

Traditional

Command

Market

Decentralized

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economy do most countries actually have?

Traditional Economy

Command Economy

Market Economy

Mixed Economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Traditional Economy?

A modern economic system where digital transactions are most common.

The oldest economic system characterized by small, remote communities and traditions.

An economy based solely on international trade and technology.

A system where goods are produced by large corporations only.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are economic decisions made in a Traditional Economy?

Based on stock market trends.

Through democratic voting by all members of the community.

Based on traditions and customs passed down from generation to generation.

By a central government authority.

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