Economic Systems

Economic Systems

10th Grade

11 Qs

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Economic Systems

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Assessment

Quiz

History

10th Grade

Practice Problem

Medium

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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The government owns some major industries like railroads and uses democratic methods to distribute wealth more equitably. Which economic system is this?

socialism
capitalism
traditional
communist

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would happen only in a communist economy?

A.The government promotes competition 
The government provides incentives for innovation
The government emphasizes the production of consumer goods
The government controls all business activities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: An economic system explains how a society makes and sells products.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Eugene Debs was a...

capitalist
socialist
communist

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Karl Marx's ideas inspired

free market economies
democracies
technological innovation
dictatorships

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The United States practices

pure capitalism
pure socialism
pure communism
mixed market

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Adam Smith argued that wealthy nations... 

regulate business so everyone is equally wealthy
allow businesses to rise/fall on their own merits
have everyone share the means of production
give businesses financial support from the government

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