What primarily determines prices in a market economy?

Understanding Economic Systems and Concepts

Interactive Video
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Business
•
9th - 10th Grade
•
Hard

Patricia Brown
FREE Resource
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7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
International trade agreements
Supply and demand
Government regulations
Corporate monopolies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another term for a market economy?
Traditional economy
Laissez-faire economy
Command economy
Mixed economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are production decisions made in a planned economy?
By individual entrepreneurs
Based on consumer preferences
By a central authority
Through market negotiations
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of economy do most wealthy nations claim to have?
Planned economy
Traditional economy
Mixed economy
Pure market economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happened to major banks and car makers during the 2007-2008 financial crisis?
They were left to fail
They were bailed out by governments
They thrived without any issues
They merged into larger corporations
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a government-run service in the United States?
Telecommunications
Private schools
Retail stores
Postal system
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the presence of government-run services in the US indicate about its economy?
It is a mixed economy
It is a planned economy
It is a traditional economy
It is a pure market economy
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