Economic Systems

20 Questions

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Economic System Quizzes & Trivia

Economic systems, Economic Activity, Stone Age, Indusrtial Revolution, Urbanization, Formal Economic Activities, Informal economic Activities, Material Wealth, Non-Material Wealth,. . .


Questions and Answers
  • 1. 
    What is Economic Activity?
    • A. 

      Decisions made on what has been done in the past.

    • B. 

      Work that people do to improve their quality of life, or to increase their wealth.

    • C. 

      Taxes charged on goods imported into the country.

    • D. 

      Countries that has a high proportion of their workforce in the tertiary sector.

    • E. 

      Decisions are made within a system that has aspects, of both command and market economies.

  • 2. 
    What is Gross National Product?
    • A. 

      Extract natural resources from the enviroment and make them into semi finished goods,

    • B. 

      Work that people do that is not reported as an economic activity, to avoid records being kept and taxes paid.

    • C. 

      Total Value of all the goods and services produced within a country in a year. The sum of all the economic activities of the citizens of a country in a year, regardlesss of wher the money was earned.

    • D. 

      A set of living conditions such as birth rate, death rate, and literacy rate that gives you a general picture of what life is like in a given country.

    • E. 

      Goods and services that we can see and touch that makes our lives better.

  • 3. 
    Formal Economic Activities: Work for wich wages are __________and records are ___________. Informal Economic Activities : Work for which wages are___________ and records are______________
  • 4. 
    What are the 4 types of economic systems, define, explain, and have example for each.
  • 5. 
  • 6. 
    What Are the Three Economic industries? Explain
  • 7. 
    What are exploding Populations?
  • 8. 
    What are the 3 big automative companies
  • 9. 
    What is the Gross Domestic Product?
  • 10. 
    What is Economic Activity?
  • 11. 
    What is Material Wealth, and Non Material Wealth?
  • 12. 
    What are the 4Economic Resources?
  • 13. 
    What is GNP
  • 14. 
    What is Globalization?
  • 15. 
    What are Economic Systems, Questions to consider, and who decides?
  • 16. 
    Stone Age
  • 17. 
    What are Tarrifs?
  • 18. 
    What is the Industrial Revolution?
  • 19. 
    What is HDI
  • 20. 
    What is urbanization?