Mrs. Jablonski: Economics & Government Quiz

14 Questions | Total Attempts: 96

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Economics Quizzes & Trivia

General economics quiz


Questions and Answers
  • 1. 
    What is economics?
    • A. 

      The study of money in every country in the world

    • B. 

      A system of production, distribution, consumption, and exchange of goods and services

    • C. 

      The way that people spend and save the money that they earn at their jobs

    • D. 

      Buying and selling in the global market place

  • 2. 
    What are the three basic types of economic systems?
    • A. 

      Traditional, Command, and Communist

    • B. 

      Command, Mixed, and Market

    • C. 

      Traditional, Command, and Market

    • D. 

      Command, Mixed, Traditional

  • 3. 
    What are the three basic economic questions?
    • A. 

      What to prouduce? How to Produce? For Whom to Produce?

    • B. 

      What to produce? How to Distribute? For Whom to Produce?

    • C. 

      What is Traditional? What is Market? What is Command?

    • D. 

      What is an Entrepreneur? How doe Entrepreneurs Contribute? Why are Entrepreneurs Important?

  • 4. 
    What is specilization?
    • A. 

      When a trades with other countries

    • B. 

      When a country makes things effectively to export to toher countries

    • C. 

      When a country imports products they do not have in their home land

    • D. 

      When a county stops making televisions or electronics

  • 5. 
    What are the three major trade barriers?
    • A. 

      Tarrif, Quota, Tax

    • B. 

      Tarrif, Restriction, Embargo

    • C. 

      Tarrif, Quota, Embargo

    • D. 

      Tarrif, Barrier, Restriction

  • 6. 
    What is the most common economic system?
    • A. 

      Command

    • B. 

      Traditional

    • C. 

      Mixed

    • D. 

      Market

  • 7. 
    Julie notices that her classmates never have bookmarks. Julie visits a local craft store to purchase paper, decorative yarn, and markers. She begins making hand-made bookmarks at home. She gets permission from the principal to seel them at the school store. What is Julie?
    • A. 

      A consumer

    • B. 

      An entrepreneur

    • C. 

      An embargo

    • D. 

      An art teacher

  • 8. 
    Additional taxes are placed on pepper plants imported into the US from Spain. This is an example of a(n):
    • A. 

      Embargo

    • B. 

      Tarrif

    • C. 

      Trade

    • D. 

      Quota

  • 9. 
    The people are involved in the lawmaking process in which type of government?
    • A. 

      Communist

    • B. 

      Democratic

    • C. 

      Oligarchic

    • D. 

      Autocratic

  • 10. 
    What is the role of the citizen in a government in which one person has total control?
    • A. 

      Autocratic

    • B. 

      Oligarchic

    • C. 

      Democratic

    • D. 

      Confederation

  • 11. 
    This government system has a loose alliance with political units and gives final control of its own laws and citizens is given to each unit
    • A. 

      Federal

    • B. 

      Unitary

    • C. 

      Confederation

    • D. 

      Autocratic

  • 12. 
    In a presidential democracy:
    • A. 

      The leader answers to the people

    • B. 

      The legislature controls power

    • C. 

      The leader is a prime minister

    • D. 

      The are no checks and balances

  • 13. 
    In a parliamentary democracy
    • A. 

      There is a system of checks and balances

    • B. 

      The leader is a president

    • C. 

      The leader answers to the legislature

    • D. 

      There is a separation of powers

  • 14. 
    A resource that develops over time and cannot be reproduced naturally is
    • A. 

      Renewable resource

    • B. 

      Human resource

    • C. 

      Natural resource

    • D. 

      Global resource

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