Economic Systems
7th Grade
•16 Qs
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Economic Systems
Quiz
•
Social Studies
•
7th Grade
•
Practice Problem
•
Medium
John Hogan
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Also called a free market or market economy
Capitalism
Communism
Socialism
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Regular people decide what will be produced, how much will be produced and the prices of goods
Capitalism
Communism
Socialism
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Competition between businesses attract customers
Capitalism
Communism
Socialism
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rewards for better preformance
Capitalism
Communism
Socialism
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Influenced by laws of supply and demand
Capitalism
Communism
Socialism
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Pure form of this economic system has government take no part in the economy
Capitalism
Communism
Socialism
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Also called a planned economy
Capitalism
Communism
Socialism
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