
Ch. 2- Economic Systems
Authored by Robert Owen
Social Studies
12th Grade
Used 78+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the way a society uses its scarce resources to satisfy its peoples unlimited wants
economic system
traditional system
command economy
market economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an economic system in which the government makes all economic decisions.
market economy
traditional system
economic system
command economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
economic system in which families, clans, or tribes make economic decisions based on customs and beliefs that have been handed down from generation to generation
economic system
traditional economy
command economy
market economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a system in which the society leaders, usually members of the central government, make all economic decisions
market economy
command economy
centrally planned economy
socialism
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an economic system in which the government owns some or all of the factors of production, developed from the ideas of Karl Marx
command economy
market economy
socialism
traditional system
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a more extreme form of socialism in which there is no private ownership of property and little or no political freedom; the government owns all the factors of production.
Level 2 socialism
authoritarian
communism
market economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
system requires absolute obedience to authority
Free market
communism
socialism
authoritarian
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