Story of Economics
Passage
•
Social Studies
•
6th Grade
•
Practice Problem
•
Easy
Standards-aligned
BALDEMAR QUINTERO
Used 22+ times
FREE Resource
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of economy is found in Commuville where the government makes all the decisions about production and distribution?
Command economy
Mixed economy
Free enterprise economy
Traditional economy
Tags
Remembering
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In Socialtown, what encourages business owners to create better products and offer lower prices?
Government regulations
Lack of resources
Competition among businesses
High taxes
Tags
Understanding
3.
OPEN ENDED QUESTION
3 mins • 1 pt
Describe the main characteristics of a free enterprise economy as observed in Freeville.
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Understanding
4.
OPEN ENDED QUESTION
3 mins • 1 pt
How does the concept of supply and demand affect the production of goods in Socialtown?
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Applying
5.
OPEN ENDED QUESTION
3 mins • 1 pt
What are the benefits and drawbacks of a command economy as seen in Commuville?
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6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system allows individuals to own businesses and make profits while the government provides essential services?
Command economy
Mixed economy
Free enterprise economy
Traditional economy
Tags
Remembering
7.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain how competition in a free enterprise economy can lead to innovation and variety in products.
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Applying
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