Chapter 2 Econ Review

Chapter 2 Econ Review

12th Grade

62 Qs

quiz-placeholder

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Chapter 2 Econ Review

Chapter 2 Econ Review

Assessment

Quiz

Social Studies

12th Grade

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62 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Who owns the resources in a Capitalist or Free Market economy?

Government

Private Individuals

Both Government and Individuals

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How are prices determined in a capitalist economy?

by the government

by the producers

by the forces of demand and supply

by the consumers

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which economic system promotes competition?

Communism

Capitalism

Socialism

Traditional

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Invisible hands is

the name of Adam Smith's Book

invisible forces that move the economy

the government force over the market

The unnamed organization pulling the strings

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Capitalism

global trading of people, goods, technology, ideas and disease

economic system in which money is invested in businesses to make profit

settlement of people living in a new territory controlled by their home country

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Who came up with the idea of capitalism in their book, The Wealth of Nations?

Charles Marx

Adam Smith

Donald Trump

Thomas Sowell

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

the part of Capitalism that naturally made for low prices and high quality

Competition

Government control

Guilds

Fixed wealth

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