Economics of Command and Free Markets

Economics of Command and Free Markets

5th Grade

10 Qs

quiz-placeholder

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Economics of Command and Free Markets

Economics of Command and Free Markets

Assessment

Passage

English

5th Grade

Medium

Created by

Cynthia Love

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a Free Market Economy, who decides what to produce?

The government

Consumers

Companies

Foreign investors

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role do consumers play in a Free Market Economy?

They set the prices.

They choose what to buy.

They produce goods.

They control the factories.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does competition affect a Free Market Economy?

It reduces the quality of goods.

It increases prices.

It is the struggle between producers for consumer money.

It eliminates consumer choice.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What drives the production of goods in a Free Market Economy?

Government regulations

Supply and demand

International trade

Environmental policies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main decision-making factor for companies in a Free Market Economy?

Government policies

Consumer preferences

International laws

Environmental concerns

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential outcome of competition in a Free Market Economy?

Higher prices

Less consumer choice

Improved product quality

Government control

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, who controls the products offered and the price of goods and services?

The government

The consumers

The store owners

The international market

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