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Ch1-3 Review #2

Authored by William Clark

Social Studies

12th Grade

Used 6+ times

Ch1-3 Review #2
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement describes a disadvantage of a command economy?

​Items tend to be produced solely for the sake of profit.

​It cannot “change direction” easily if the need arises to do so.

​It does little to help the less advantaged obtain the goods and services they need.

​Nothing stops the government from producing things that people don’t need or want.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of a market economy?

  ​It sustains a high degree of uncertainty.  

​It restricts to personal freedom.

 ​It discourages creativity and new ideas for doing things.  

  ​It does not allocate resources as efficiently as other types of economies.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What kind of economy offers uniformity in wages regardless of individual productivity? 

  ​all economies  

​traditional economies

  ​command and socialist economies

 ​market and free-enterprise economies

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the statements best describes the communist ideal?

   ​a classless society in which everyone works for the common good  

  ​a classless society in which workers are motivated by financial incentives  

​a society in which the working class is motivated by incentives to produce goods  

​a society in which a small ruling class administers resources for the common good

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who did Karl Marx believe would be the beneficiaries of socialism?

  ​property owners

 ​the government  

​workers  

​capitalists

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is said to have “sovereignty” over a free market?

    ​government  

​consumers  

  ​entrepreneurs

  ​businesses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 ​A state government builds a highway. This is an example of government fulfilling its role as what?

  protector  

  ​provider  

  ​regulator  

​consumer

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