6 Questions
Which of the following is an example of a market economy?
A country where individuals and businesses make their own economic decisions
What is the purpose of taxation in an economy?
To fund government programs and services
What is the role of the Federal Reserve in the United States economy?
To manage the nation's monetary policy
Which of the following is an example of a command economy?
China
What is the main goal of fiscal policy?
Promoting economic growth
What is the law of demand?
As price increases, quantity demanded decreases
Test your knowledge of basic economics concepts with this 9th grade quiz! Answer 10 multiple-choice questions on topics such as market economies, taxation, and the role of the Federal Reserve in the US economy. Challenge yourself and see how well you understand these fundamental economic principles.
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