Economy Quiz Review

You own two cows. You give your neighbor, who does not have any cows, one of your cows. You now both have one cow. This economy is called: ____________________________.

• Dictator

• Capitalism

• Socialism

• Communism

You have two cows. The government takes both and gives you the amount of milk they decide you need. This economy style is called: _____________________________.

• Dictator

• Capitalism

• Socialism

• Communism

YOU OWN two cows and YOU DECIDE how much you will sell the cow’s milk for. This economic system is called

___________________________.

• Dictator

• Capitalism

• Socialism

• Communism

People buy the cow’s milk from a GOVERNMENT-OWNED store. This economic system is called ____________________________.

• Dictator

• Capitalism

• Socialism

• Communism

People buy the cow’s milk from a PRIVATELY-OWNED store. This economic system is called ____________________________.

• Dictator

• Capitalism

• Socialism

• Communism

You go to the store and buy as much milk as you WANT. This economic system is called ____________________.

• Dictator

• Capitalism

• Socialism

• Communism

You go to the store and are given the milk the government has decided you need. This economic system is called ____________________.

• Dictator

• Capitalism

• Socialism

• Communism

YOU START a company where you sell your milk and products made from your milk (ice cream, cheese, etc.) and YOU KEEP THE PROFITS. This economic system is called ___________________________________.

• Dictator

• Capitalism

• Socialism

• Communism

There is a drought occurring on the other side of your country and the cows other FARMERS OWN are dying from a lack of food and water. The GOVERNMENT steps in and takes money from you to assist the other farmers so they can buy more cows. This economic system is called ___________________________.

• Dictator

• Capitalism

• Socialism

• Communism

There is a drought occurring on the other side of your country and THE GOVERNMENT requires you to share some of the cows you’ve been allotted and the milk they produce with the other farmers. This economic system is called _____________________________.

• Dictator

• Capitalism

• Socialism

• Communism