Economic Systems

Economic Systems

9th - 12th Grade

25 Qs

quiz-placeholder

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Economic Systems

Economic Systems

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Sherica Simmonds

Used 4+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a Command economy, the wealth is distributed evenly among citizens.

True
False

Answer explanation

In countries like Cuba, nobody is richer than the other. They are all at the same stage financially.

The doctor and the Janitor make the same money.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a "pure" Planned system, who are the wealthiest and most powerful people?

Intellectuals
Business leaders
Military leaders
No One--every member of society is supposed to be equal

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The founder of command economic system is

Adam Smith
John Locke
Karl Marx
Rousseau 

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a communist/command society...

the government controls the means of production

the individual owns the means of production

wealth is distributed evenly amongst society

there is no wealth or private property

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Property is owned by the state

Communism
Capitalism

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States is this type of system

Mix of socialism and capitalism (mixed economy)

Purely free market

Purely Command

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

Market
Mixed
Command
Traditional

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