The Role Of Economic Systems

The Role Of Economic Systems

12th Grade

34 Qs

quiz-placeholder

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The Role Of Economic Systems

The Role Of Economic Systems

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Sara Martin

Used 73+ times

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34 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The best example of a private good is ___________.

Talladega National Forest

Public beaches in south Alabama

NASA

Alabama and Auburn football tickets

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is NOT a necessary function of government?

Providing a legal system to enforce laws and protect property rights

Maintaining competition by regulating monopolies

Promoting economic growth at the expense of employment and price stability

Providing goods that private companies cannot

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A government that focuses on an increase in prices throughout the economy is most concerned with which social goal?

Income security

Equitable distribution of income

Price stability

Economic freedom

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The best example of a public good is ___________.

3D televisions

Nike shoes

flood control

haircuts

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When balancing the national budget, it would appear as __________.

all decisions have higher benefits than costs

balancing the benefits and costs is easy since the costs to different groups are so equal

the process is not easy since there are many tradeoffs between benefits and costs

the costs of a decision always outweigh the benefits since they are spending tax dollars

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When a country is producing as many goods and services as possible with the resources available it has achieved which social goal?

Income security

Economic efficiency

Equitable distribution of income

Economic freedom

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Remember, no society can achieve all its goals at the same time. To achieve an equitable distribution of income, a country’s trade-off would be losing __________.

full employment

price stability

income security

economic freedom

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