Economic Systems Quiz

Economic Systems Quiz

12th Grade

5 Qs

quiz-placeholder

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Economic Systems Quiz

Economic Systems Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Christopher Yellowe

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the main characteristic of a capitalist economic system?

Public ownership of means of production

Government central planning

Private ownership of means of production

Classless society

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In a socialist economic system, who typically owns or regulates the means of production?

Private individuals and businesses

The community as a whole (economic inequality)

The government

Traditional customs and beliefs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the primary goal of communism?

Economic inequality

Classless and stateless society

Private property ownership

Market-driven economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In a mixed economy, what role does the government play?

No government intervention

Complete ownership of means of production

Intervenes to address issues like income inequality and provides public goods

Absence of market forces

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which economic system relies on customs, traditions, and cultural beliefs to make economic decisions?

Command economy

Mixed economy

Traditional economy

Capitalist economy