Capitalism and Socialism/Communism

Capitalism and Socialism/Communism

10th Grade

27 Qs

quiz-placeholder

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Capitalism and Socialism/Communism

Capitalism and Socialism/Communism

Assessment

Quiz

Social Studies

10th Grade

Medium

Created by

Rebecca Verbarg

Used 24+ times

FREE Resource

27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Laissez-faire capitalism as attributed to Adam Smith called for

heavy taxation of manufacturers

strict government control of the economy

minimal government involvement in the economy

government investments in major industries

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a key principle of a market economy (capitalism)?

The means of production are controlled by the state.

Supply and demand determine production and price.

Employment opportunities are determined by social class.

Businesses are owned by the people collectively.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

During the 1800s, the writings of Karl Marx focused attention on the problems faced by

factory owners

investment bankers

farm laborers

factory workers

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Karl Marx and Friedrich Engels encouraged workers to improve their lives by

electing union representatives

participating in local government

overthrowing the capitalist system

demanding pensions and disability insurance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Laissez-faire most closely translates to mean...

natural rights

iron law of wages

let it happen

tabula rasa

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who developed laissez-faire economics as a en economic philosophy? 
Adam Smith
Karl Marx
John Locke
Louis XVI

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Smith believed that the economy operated according to three natural laws involving this concept...
self-interest
compassion
citizenship
trustworthiness 

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