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ENG: Economic Systems Quiz

Authored by Jocelyn Duran

Social Studies

10th Grade

Used 3+ times

ENG: Economic Systems Quiz
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system proposes that individuals should pursue their own self-interest by working to earn individual profit?

Socialism

Capitalism

Communism

Feudalism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to which economic system, the government should act to limit how much businesses can earn each year?

Capitalism

Socialism

Anarchism

Communism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under which economic system, the government operates and owns all industries and no small businesses are allowed?

Communism

Capitalism

Mercantilism

Socialism

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who wrote about the economic system of capitalism in 'The Wealth of Nations'?

Milton Friedman

John Maynard Keynes

Adam Smith

Karl Marx and Freidrich Engles

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system proposes to create a classless society by fighting to abolish class distinctions?

Communism

Socialism

Capitalism

Mercantilism

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under which economic system, the government should decide what a business does with its profits?

Anarchism

Communism

Socialism

Capitalism

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who owns businesses (means of production) under communism?

Cooperatives

Individuals

The government

Corporations

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