Warm - Up Economic Systems Multiple

Warm - Up Economic Systems Multiple

11th Grade

6 Qs

quiz-placeholder

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Warm - Up Economic Systems Multiple

Warm - Up Economic Systems Multiple

Assessment

Quiz

Business

11th Grade

Medium

Created by

Sherzard McEwen-Ashford

Used 2+ times

FREE Resource

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key characteristic of a command economy?

Individuals own the resources.

The government controls all economic decisions.

Prices are determined by supply and demand.

There is no government intervention.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a market economy?

North Korea

Cuba

United States

China

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a mixed economy, which of the following best describes the role of the government?

The government completely controls all industries.

The government has no role in the economy.

The government regulates certain industries while allowing private enterprise.

The government owns all resources and businesses.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following countries is known for having a command economy?

Germany

Canada

China

North Korea

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market economy, how are prices typically determined?

By government decree

By supply and demand

By central planning

By tradition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is the price of a commodity determined?

By the central bank

By supply and demand

By international standards