Economic System Quizzes Online & Trivia

A comprehensive database of more than 11 economic system quizzes online, test your knowledge with economic system quiz questions. Our online economic system trivia quizzes can be adapted to suit your requirements for taking some of the top economic system quizzes.

Economic System Questions and Answers

�What are the limitations of a free enterprise system?

A free enterprise system, or capitalism, has the specific downfall of uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products. The main goal of the capitalist world is to allow anyone to get up to the top of the world by their own efforts. In reality, only a few people do that. This is mainly because the resources are expensive. If there are people that have it all, they can get it for cheap because they can make the purchase that will last for a long while before they have to buy it again. However, capitalism is all about the money! If you can make money on it, then that’s all you need to worry about it. For this reason, companies made it incredibly hard to find information about their products way back in the day. Nowadays, that’s not too hard to find.

�What are the limitations of a free enterprise system?

A free enterprise system, or capitalism, has the specific downfall of uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products. The main goal of the capitalist world is to allow anyone to get up to the top of the world by their own efforts. In reality, only a few people do that. This is mainly because the resources are expensive. If there are people that have it all, they can get it for cheap because they can make the purchase that will last for a long while before they have to buy it again. However, capitalism is all about the money! If you can make money on it, then that’s all you need to worry about it. For this reason, companies made it incredibly hard to find information about their products way back in the day. Nowadays, that’s not too hard to find.

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What does a centrally planned economy promote?

Profit will be for the publicsectornot individualor privet owners if it is exist

What does a centrally planned economy promote?

Profit will be for the publicsectornot individualor privet owners if it is exist

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What is a limitation of a mixed economic system according to the text?

High taxation

What is a limitation of a mixed economic system according to the text?

High taxation

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What is the difference between developed, and developing countries.

Developed countries, have a high proportion of workforce in the tertiary sector. Developing Countries has a high proportion of their workforce in the Primary industries.

What is the difference between developed, and developing countries.

Developed countries, have a high proportion of workforce in the tertiary sector. Developing Countries has a high proportion of their workforce in the Primary industries.

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What are the 4 types of economic systems, define, explain, and have example for each.

Traditional:Desicions are made on what has been done in the past. Ex: Menonites. Command : Desicions are made by central authority, such as dictator, or the government. EX : Nnorth Korea.Marjet desicions are made by all members of society based on own needs and desires. Ex USA. MixedDesicions are made within a system that has aspects of both comaand and market economies. Ex. Canada.

What are the 4 types of economic systems, define, explain, and have example for each.

Traditional:Desicions are made on what has been done in the past. Ex: Menonites. Command : Desicions are made by central authority, such as dictator, or the government. EX : Nnorth Korea.Marjet desicions are made by all members of society based on own needs and desires. Ex USA. MixedDesicions are made within a system that has aspects of both comaand and market economies. Ex. Canada.

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Which of the following is not an example of a situation that increases profit in a free enterprise system?

The cost of raw materials has increased

Which of the following is not an example of a situation that increases profit in a free enterprise system?

The cost of raw materials has increased

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Which is not a basic question of an economic system according to the text?

Where to produce

Which is not a basic question of an economic system according to the text?

Where to produce

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What are the limitations of a Free enterprise system?

Uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products

What are the limitations of a Free enterprise system?

Uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products

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Which of the following is not an example of a situation that increases profit in a free enterprise system?

The cost of raw materials has increased

Which of the following is not an example of a situation that increases profit in a free enterprise system?

The cost of raw materials has increased

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A centerally planned economy has .

A large planning agency, many government employees, and many social benefits

A centerally planned economy has .

A large planning agency, many government employees, and many social benefits

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Recently Updated

What Economic System Are You?

Economic Systems

Questions: 5 | Attempts: 17

Sample Question
When you are working in a group, who would you consider yourself?

Leader

First follower

Follower

Slacker

Leader and a follower

How Economic Systems Attempt To Allocate Resources Effectively

In our economic system we have three main resources that are combined into goods and services. In this quiz we will test the users knowledge of the importance of scarcity of resoures in economics and how effectively the various...

Questions: 10 | Attempts: 110

Sample Question
In economics we have three main resources that are combined into goods and services, these are;

Workers, employees, managers

Equipment, vehicles, furniture

Human, natural,capital

Computers,workers,equipment

3-3 Economic Systems Guided Reading

This is a Guided Reading Assignment for 3-3. Be exact. Spelling counts. These are book answers.

Questions: 15 | Attempts: 45

Economic Systems

Questions: 10 | Attempts: 500

Sample Question
Which of these is a key economic question face by countries?

How bis should the army be?

What goods and services should be produced?

How much mone should be raised in taxes?

How many schools should be built?

Types Of Economic System

This quiz is about economic system.

Questions: 3 | Attempts: 64

Sample Question
It is also known as the subsistence economy. What type of economic system is this?

Command economy

Traditional economy

Mixed economy

Our Economic System

Since you have completed the packet it is now quiz time so lets begin.

Questions: 4 | Attempts: 19

Sample Question
What goods and services will be produced in the furture?

Computers

Cars

Consrtuction

Foods

All Of The Above

Economic Systems

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

Questions: 20 | Attempts: 11

Sample Question
What is Economic Activity?

Decisions made on what has been done in the past.

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

Taxes charged on goods imported into the country.

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

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

Economic Systems

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

Questions: 20 | Attempts: 45

Sample Question
What is Economic Activity?

Decisions made on what has been done in the past.

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

Taxes charged on goods imported into the country.

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

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

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