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Economic System

Authored by Isabelle Shortt

Social Studies

9th Grade

Economic System
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is capitalism?

An economic system in which the means of production and distribution of goods and services are privately owned and operated for profit.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the government or the community as a whole.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the community as a whole and there is no private ownership.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the community as a whole and there is no private ownership.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In capitalism, what is the role of the government?

Complete control, with the government responsible for all aspects of the economy and ensuring that resources are distributed equitably

Limited, mostly confined to creating and enforcing laws and regulations to ensure fair competition and protect property rights

Significant, with the government responsible for ensuring that resources are distributed equitably and that everyone has access to basic needs such as healthcare, education, and housing

None of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In capitalism, how are resources distributed?

Based on market forces and individual achievement, with unequal distribution of wealth and income

Based on need and ability, with a more equal distribution of wealth and income.

Based on need and ability, with complete equality of wealth and income.

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is socialism?

An economic system in which the means of production and distribution of goods and services are privately owned and operated for profit.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the government or the community as a whole.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the community as a whole and there is no private ownership.

An economic system that combines elements of capitalism and socialism.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In socialism, how are resources distributed?

Based on market forces and individual achievement, with unequal distribution of wealth and income.

Based on need and ability, with a more equal distribution of wealth and income.

Based on need and ability, with complete equality of wealth and income.

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is communism?

An economic system in which the means of production and distribution of goods and services are privately owned and operated for profit.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the government or the community as a whole.

An economic system in which the means of production and distribution of goods and services are owned and controlled by the community as a whole and there is no private ownership.

An economic system that combines elements of capitalism and socialism.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In communism, what is the role of the government?

Complete control, with the government responsible for all aspects of the economy and ensuring that resources are distributed equitably.

Limited, mostly confined to creating and enforcing laws and regulations to ensure fair competition and protect property rights.

Significant, with the government responsible for ensuring that resources are distributed equitably and that everyone has access to basic needs such as healthcare, education, and housing.

None of the above

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