Econ Review

Econ Review

10th Grade

30 Qs

quiz-placeholder

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Econ Review

Econ Review

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Medium

DOK Level 2: Skill/Concept

Standards-aligned

Created by

Jasmine Franklin

Used 19+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

incentive to work, save, and invest are all characteristics of what economic system

socialism

communism

authoritarianism

free enterprise system

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

lower prices for products is a result of competition in a ---

democracy

communism

free enterprise system

socialism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

paying rent instead of purchasing tickets to a concert is an example of--

scarcity

property rights

opportunity cost

capitalism

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a basic characteristic of all economic systems?

price controls

wage incentives

small business owners

distribution of goods an services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

No special taxes, unlimited liability, easy to manage, complete ownership, easy to start up, difficult to raise capital ---

Characteristics of Partnership

Characteristics of Free Enterprise

Characteristics of Sole Proprietorship

Characteristics of Corporation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of the US free enterprise system

equal distribution of goods and services

amount of choices for consumers

lack of union participation by workers

guaranteed returns on investments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Markets that respond to consumer demand is a characteristic of what economic system?

US Free Enterprise

Socialism

Communism

Marketism

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