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Economic Systems Quiz

Authored by Robyn Parrish-Hill

Social Studies

7th Grade

DOK Level 1: Recall covered

Used 5+ times

Economic Systems Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system is based on the collective or state ownership of the means of production?

Capitalism

Socialism

Feudalism

Monarchy

Tags

DOK Level 1: Recall

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system is characterized by private ownership and the free market?

Socialism

Communism

Capitalism

Totalitarianism

Tags

DOK Level 1: Recall

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which economic system does the government have the most control over the economy?

Capitalism

Socialism

Communism

Anarchism

Tags

DOK Level 1: Recall

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of communism?

Increase private profits

Eliminate social classes

Promote individualism

Encourage competition

Tags

DOK Level 1: Recall

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term best describes an economic system where the production, distribution, and prices are controlled by the government?

Laissez-faire

Capitalism

Planned economy

Market economy

Tags

DOK Level 1: Recall

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key feature of a capitalist economy?

Government ownership of businesses

Central planning by the state

Private property rights

Equal wealth distribution

Tags

DOK Level 1: Recall

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which system aims at distributing resources from each according to their ability to each according to their needs?

Capitalism

Socialism

Communism

Monarchism

Tags

DOK Level 1: Recall

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