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Economic Ideologies

Authored by Tara Powell

History

10th Grade

Used 11+ times

Economic Ideologies
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19 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Capitalism is an economic system in which __________ own the means of production and operate businesses in order to make a profit. 

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Entrepreneurs are...

people with all their efforts and abilities

individuals who start a new business or bring a product to market.

The "gifts of nature" or natural resources not created by human effort.

the tools, equipment, and factories used in production of goods and services

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Factories, mines, railroads, and machines are examples of....

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How quickly you can produce a good to turn around and sell

Input

Efficiency

Productivity

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best describes Division of labour?

Breaking down of work into smaller units

Doing variety if diversified work

Each worker creates the final product

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an advantage of division of labour?

Less job satisfaction

Delays in work

Increased speed of work

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A _____________ economy is driven entirely by voluntary exchange in markets guided by supply and demand

Traditional

Planned/Command

Mixed

Free Market

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