6th Grade Economic System Review Question Preview (ID: 57097)


Economic System Vocab. TEACHERS: click here for quick copy question ID numbers.

In a market economy, a country’s economic decisions are based on __________.
a) consumers and buyers
b) gross domestic product
c) supply and demand
d) whatever the government tells you,

In a command economy, The government also ______________ by regulating which goods the country needs to import and which goods should be sold, or exported, to other countries.
a) restricts free trade
b) allows open production
c) makes everyone wealthy
d) stops counterfeits

In a ________ economy, people produce what they need to survive by using traditional methods of agriculture, hunting, fishing, or gathering.
a) market
b) mixed
c) command
d) traditional

People _______ by exchanging one good or service for another, instead of paying with money.
a) banter
b) barter
c) shop
d) trade

An ______________ is the way in which a society or country organizes the production, consumption, and distribution of goods, services, and wealth.
a) economic system
b) oligarchy
c) autocracy
d) producer

businesses, property, and resources belong to individual citizens instead of the government is an example of ____________
a) democracy
b) private ownership
c) the Taliban
d) consumer

What is the definition of 'supply'?
a) not enough water for drinking
b) What to produce, when to produce, and where to produce
c) how much of a good or service is produced or is available at a certain price
d) an action provided by a producer for a consumer to satisfy a need or want

What are the three economic questions every country must answer?
a) What to produce, how to produce, for whom to produce
b) What to produce, when to produce, and where to produce
c) What to produce, how much it costs, and who pays the taxes
d) none of these

Market + Command = _________
a) market
b) mixed
c) command
d) tradtional

In which economic system does the government own all businesses and resources and decide who gets what?
a) market
b) mixed
c) command
d) traditional

In which economic system do buyers control what is produced by making purchases.
a) market
b) mixed
c) command
d) traditional

Government planning groups make the basic economic decisions such as which goods and services to produce, prices, and wage rates
a) market
b) mixed
c) command
d) traditional

An economy in which most of the economic decisions that are made are based on custom and on the habit of how such decisions were made in the past.
a) market
b) mixed
c) command
d) traditional

What type of economic system do most democratic countries have?
a) market
b) mixed
c) command
d) traditional

What is scarcity?
a) the lack of resources to produce all the goods and services that are needed or wanted
b) Invest in public education including college, training programs, funding for research
c) investment in factories
d) a Halloween style event that makes money

there are no ________ market or ________ command economies
a) real
b) modern
c) live
d) pure

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 57097 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links