Lesson 1.4: Types of Economic Systems

Lesson 1.4: Types of Economic Systems

9th - 12th Grade

10 Qs

quiz-placeholder

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Lesson 1.4: Types of Economic Systems

Lesson 1.4: Types of Economic Systems

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Mr. Myers

Used 228+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

In which economic system is the economy COMPLETELY controlled by the government?

capitalism

socialism

communism

anarchism

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In which economic system do private individuals and government SHARE control of the economy?

capitalism

socialism

communism

anarchism

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

In which economic system do private individuals control the economy?

capitalism

socialism

communism

anarchism

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Minimum wage laws and product-labeling laws would likely be found in which form of capitalism?

laissez-faire capitalism

mixed economy

anarcho-capitalism

feudalism

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

In this form of capitalism, the government adopts a "hands-off" policy toward the economy.

laissez-faire capitalism

mixed economy

anarcho-capitalism

feudalism

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Who is known as the father of capitalism, whose 1776 book "The Wealth of Nations" advocated laissez-faire theory?

Karl Marx

Adam Smith

John Maynard Keynes

F. A. Hayek

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Who is known as the father of modern socialism and communism, who believed that capitalism should be overthrown through violent revolution?

Karl Marx

Adam Smith

John Maynard Keynes

F. A. Hayek

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