
2 - Fundamentals of Economics
Authored by Mariam Khursheed
Social Studies
10th Grade - Professional Development
Used 10+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system based on private ownership and the use of capital.
Capitalism
Communism
Command Economy
Socialism
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system in which all means of production are owned by the people, private property does not exist, and all goods and services are shared equally.
Capitalism
Communism
Command Economy
Socialism
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The central government makes all important decisions in the best interest of the society.
Capitalism
Communism
Command Economy
Socialism
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system in which factors of production are owned by the public and operate for the benefit of all.
–Private ownership is still allowed
Capitalism
Communism
Command Economy
Socialism
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
–letting owners of industry and business set working conditions without interference
■No government regulations, such as minimum wage laws
Laissez faire
Capital
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Wealth in the form of property or money that is used to make more money.
Laissez faire
Capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The government answers those questions. There's no private business. There's no private property. The government decides.
Communism
Capitalism
Socialism
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