Social Studies/Economics Of World Communities

5 Questions | Total Attempts: 61

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Social Study Quizzes & Trivia

This is a social studies quiz about economic systems based on chapter 7 of NYS Social Studies Coach Grade 5.


Questions and Answers
  • 1. 
    Define market economy.
    • A. 

      An economy based on private ownership of businesses, supply/demand production, advanced technolgy, and competition.

    • B. 

      An economy based on bartering, and haggling.

    • C. 

      An economy based on families, local communities, and government.

    • D. 

      An economy like China's.

    • E. 

      None of the above

  • 2. 
    What is a natural resourece?
    • A. 

      Railroad

    • B. 

      Water

    • C. 

      Telephone

    • D. 

      Oil

    • E. 

      B and D

  • 3. 
    Global interdependence means?
    • A. 

      The US has more natural resources than Europe.

    • B. 

      A customer in Australia has wheaties for breakfast with sugar made in Cuba.

    • C. 

      Nations rely on each other to provide products and services

    • D. 

      B and C above

    • E. 

      None of the above.

  • 4. 
    A command economy is
    • A. 

      Like the Cuba's economy..

    • B. 

      One in which the government makes all economic decisions.

    • C. 

      Like the US economy.

    • D. 

      One which private businesses flourish.

    • E. 

      .A and B above

  • 5. 
    What are the three basic needs?
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