What is an economic system?
Economic Systems

Quiz
•
Business
•
9th Grade
•
Hard
Alicia Delande
Used 8+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The way a country handles its economic decisions
A way to exchange cultural ideas
A financial institution for managing money
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a traditional economy, production is primarily based on:
Market demand
Government regulations
Traditions passed down through the generations
Technological advancements
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A traditional economic system is sometimes called a ________ system - a level of existence that barely supports life.
subsistence
communism
socialism
welfare state
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Examples of ________ economies include villages in the Andes Mountains, Amazon Rainforest communities, the Aborigines of Australia, and rural areas in Africa.
traditional
command
market
mixed
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People living in a _________ economy produce the same things that were produced by their ancestors. The items they produce are needed to carry on their daily lives.
traditional
command
market
mixed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The major problem for a traditional economic system is that there is little opportunity
for ___________.
industrial goods
growth or improvement
consumer goods
human services programs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This system gets its name because a small group of people is in command of all the others - the government owns and operates many or all of the means of production and distribution.
traditional
command
market
mixed
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