
Economics: Economic Systems
Authored by Adrian Blanco
Social Studies
11th - 12th Grade
Used 192+ times

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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Since the 1880's, the role of government in the United States has ________________.
decreased
been eliminated
increased significantly
had no impact on the economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What motivates people to establish new businesses or expand existing ones?
private property
freedom of choice
government regulations
profit incentive
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the benefits of an economic action exceed the costs ______________.
economic efficiency increases
production of goods and services decreases
economic efficiency decreases
economic freedom decreases
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The goal of economic stability is to reduce extreme ups and downs in the __________________.
minimum wage
factors of production
standard of living
nation's economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who owns the factors of production and makes economic decisions in a market economy?
individuals
economists
government
communities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following describes a free enterprise system?
individuals are free to own and control the factors of production
government owns and controls the factors of production
businesses cannot make a profit
there are no legal restrictions on freedom of enterprise
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The goal of economic freedom is to ______________________.
allow the government to control the economy
allow each member of society to make choices
limit competition
prevent businesses from failing
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