World History Test #3

Every economic system answers three questions: What is produced? For whom is it produced?

• Why is it being produced?
• Should it be produced at all?
• How is it produced?
• How easily can it be produced?

An economic system is a society's system of production, distribution, and consumption of _______.

• goods and services
• natural resources
• chili cheese fries
• stocks and bonds

Who owns factors of production in a command economy?

• private citizens
• the government
• religious institutions
• none of the above

Which three below are characteristics of a market economy

• Profit is the motivation
• Supply and demand dictate price.
• Businesses decide what and how much is made.
• Competition between businesses is discouraged.

Which country was communist, which led to a totalitarian rule?

• Russia
• United States
• Italy
• Israel

If supply is low and demand is high, _________.

• prices rise
• prices drop
• prices stay the same
• competition disappears

The United Nations was created after what war?

• WWI
• WWII
• WWIII
• Vietnam War

What was created to allow countries to meet and talk about world issues?

• United Nations
• Zoom
• Big Five
• World Health Organization

The Big Five countries are the United States, Britain, Russia, China, and _______.

• France
• Germany
• Wakanda
• Canada

How many countries are in the United Nations today?

• 193
• 55
• 143
• 97