Economic Systems SS.7.CG.3.15

Economic Systems SS.7.CG.3.15

7th Grade

10 Qs

quiz-placeholder

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Economic Systems SS.7.CG.3.15

Economic Systems SS.7.CG.3.15

Assessment

Quiz

Social Studies

7th Grade

Hard

Created by

Danelle Littles

Used 16+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does capitalism in the United States prioritize to ensure economic freedom?

Government control over businesses

Free market and individual enterprise

Equal wealth distribution among citizens

State ownership of property

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a free market contribute to raising the standard of living for citizens?

By ensuring equal income for all

Through strict government regulations

By limiting economic opportunities

By encouraging competition and innovation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key advantage of capitalism over government-controlled economic systems?

Decreased individual freedom

More economic opportunities

Less economic prosperity

Higher taxes on individuals

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of socialism and communism?

Economic freedom

Equal distribution of resources

Government control over economy

Planned economic activities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What aspect of capitalism is most crucial for improving citizens' quality of life?

Central planning of the economy

Mandatory sharing of profits

Unlimited government intervention

Economic prosperity through free enterprise

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economic system?

how society produces goods and services

individuals own their own property

producers and consumers

to eliminate inefficient producers

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the statements about Capitalism are true, EXCEPT

own their own property

free to use their property without government interference

sell goods and services to other citizens in hopes of making a profit

the government controls all human and natural resources

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