Ecconmics

Government control of industry.

• Captalism

• Socialism

What is the economic system where the means of production are privately owned?

• Communism

• Capitalism

In which economic system does the government play a minimal role?

• Capitalism

• Socialism

The U.S government has increased its influence on the economy by

• imposing taxes.
• creating government agencies.
• creating laws.
• All of the above.

Which economic system is characterized by collective ownership of resources?

• Capitalism

• Socialism

What role does the government play in a mixed economy?

• No role

• Limited role

• Significant role

What is the definition of a mixed economy?

• A mixed economy is an economic system that combines elements of both capitalism and socialism.

• A mixed economy is an economic system that combines elements of both feudalism and socialism.

• 
  
  A mixed economy is an economic system that combines elements of both communism and capitalism.

• A mixed economy is an economic system that combines elements of both monarchy and socialism.

What are the characteristics of a mixed economy?

• A mixed economy is purely capitalist with no government intervention

• A mixed economy combines elements of both capitalism and socialism, with private ownership and government intervention to ensure social welfare and prevent monopolies.

• A mixed economy is a form of communism with equal ownership of all resources

• 
  A mixed economy is purely socialist with no private ownership

In a mixed economy, who typically owns the means of production?

• Only the government

• Only private individuals

• Both private individuals and the government

• Neither private individuals nor the government

What is the role of government in a mixed economy?

• The role of government in a mixed economy is to have no involvement and let the market operate freely.

• The role of government in a mixed economy is to regulate and control certain aspects of the economy while allowing for private ownership and market forces to operate.

• The role of government in a mixed economy is to completely control and own all means of production

• 
  The role of government in a mixed economy is to only regulate and control the private sector.