Grade 9 History Review

The definition of "subsistence economies", is

• each member of a group is responsible for their own needs

• trading to raise the overall standard of living

• trading to raise the overall standard of living

• a farm with both animals and crops

Money based on the value of a commodity, is called

• Fiat Money

• Fiduciary Money

• Cash dollar bills

What is an exchange rate?

• It's the price of clothes in different countries

• It's the price of a house in different countries

• It's the price of a nation’s currency in relation to another

• It's the price of the food in different countries

What is inflation?

• rise in all prices
• rise in most prices
• rise in some prices
• rise in general prices

Tends to be supported by workers (the proletariat).

• Capitalism

• Communism

Supports individual ownership (private property).

• Capitalism

• Communism

Supports economic equality among all people.

• Capitalism

• Communism

This economic system does not support individual ownership because it could lead to greed and economic inequality.

• Capitalism

• Communism

Who was the "father" of communism?

• Joseph Stalin
• Harambe
• Karl Marx
• Adams Smith

What was the goal of communism, according to Marx?

• the oppression of the working class

• a more equal and fair society

• making everybody rich

• making everybody poor